Veteran Analyst Tone Vays Says Bitcoin Targeting $28,000 As Year Comes to a Close

Wall Street veteran and crypto strategist Tone Vays says he expects Bitcoin to end 2020 with a bang.

In a new strategy session, Vays tells his 96,000 subscribers that he believes Bitcoin will maintain its uptrend as technical indicators flash bullish signals.

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Vays relies on the relative strength index (RSI), moving average convergence/divergence (MACD), and the Chaikin Money Flow (CMF), which are technical indicators that reveal the strength of an asset’s trend and momentum.

“The RSI on the daily chart is back in the overbought territory, which tells you to just stay with your bullish trade for now. The MACD is at a beautiful area right there and it is also telling you to just stay with the bullish trade. You don’t know when it’s going to turn. And the CMF is also fully, fully bullish. So there’s not much here to scare you.”  

With momentum on the side of the bulls, Vays expects the leading cryptocurrency to break out of consolidation and explode to a new all-time high.

“We’re looking at the daily chart. I drew this mini triangle situation going on. We got the green star. I believe this green star will hold going to end of day and this sets us up nicely for one more bounce. 

There’s two ways to look at the size of the bounce. One way to look at it is to take the move that we had, like an average move, from the breakout area which was a $4,000 move and we extend it forward from consolidation. That would be another $4,000 move, taking us to just above $28,000.”

But not all traders are expecting Bitcoin to break out just yet. Crypto strategist Smart Contracter, who’s known in the industry for pinpointing the BTC 2018 bear market bottom, says he expects the leading cryptocurrency to continue its sideways consolidation before blasting off to a new all-time high at the start of 2021.

“BTC finding resistance on 4h right back up at the ATH range highs. [Bitcoin] could end up forming a larger re accumulation range here.”

Source: Smart Contracter/Twitter

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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After XRP Bombshell, Crypto Analyst Says 5 Altcoins Are Likely Safe From SEC

Crypto strategist and influencer Tyler Swope is naming five altcoins that he believes are likely not in the crosshairs of the U.S. Securities and Exchange Commission (SEC).

In a new video, Swope tells his 163,000 subscribers that the SEC’s lawsuit against Ripple could foreshadow future action against other crypto projects.

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“The evidence mounted against Ripple, it’s fierce and this time, precedent could be set as the lawsuit, it is in federal court with the SEC. The outcome, it will have ramifications not only for Ripple, XRP, and those involved, but those that fall within the securities basket.”

The trader highlights a select group of altcoins that he thinks will likely not be targeted. He says tokens of decentralized autonomous organizations (DAOs) like PieDAO’s DOUGH are at the top of his safe list.

“It’s obvious if an altcoin or project raised no funds from investors, they more than likely don’t have much to worry about right now. And even better is when a project is run by a DAO, decentralized autonomous organization. Thus, there is no company, aka Ripple, to go after.”

Swope also says that projects that raised funds with SEC approval should also be safe. He mentions two noteworthy projects that received the green light from the regulatory body: enterprise-grade blockchain for the energy space Energy Web Chain (EWT) and DApp and smart contract builder Blockstack (STX).

Swope highlights Energy Web chief executive Walter Kok’s statement saying that regulatory compliance is a must as the project runs its operation on a global scale.

As for Blockstack, Swope notes that the project is the first to put together an SEC-qualified token offering to the public via Regulation A+, which he refers to as the “mini IPO (initial public offering).”

Another token type that’s safe, according to Swope, are projects that launched airdrops such as decentralized exchange Uniswap (UNI) and decentralized exchange aggregator 1inch.

“They are just governance tokens and of course, no money was raised. So Uniswap, it’s most likely safe… Guess who just updated their GitHub with a token and the contract was deployed to the Ethereum blockchain, as we can see 1inch.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Analyst Nicholas Merten Says Altcoin Cycle Approaching, Tracks State of Bitcoin, Ethereum and Litecoin

Popular crypto strategist Nicholas Merten is keeping a close watch on Bitcoin, Ethereum, XRP, and Litecoin.

In a new edition of DataDash, Merten maps out to his 363,000 subscribers the levels to watch for BTC.

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“We are in uncharted territory. This is a first for where Bitcoin is in its price history. So, we can see here right now that we’re holding generally around [$22,250]. You can see we dipped a little bit lower here but right now we’re roughly holding the support range we’ve had back here through December 17th to the 18th and it will be a question here whether we can maintain this level.

If we do start to curve back over here [$21,900], I would feel a bit of a warning sign’s coming out of the market; that we are going to dip down and do something that a lot of people don’t want to see and that’s a breakdown towards $20,000 or to the upper $19,000 range where the official all-time highs were previously from the last cycle to make it new support.” 

Merten says that Bitcoin is already overextended and that we might see a shift in liquidity as investors rotate their profits into leading altcoins.

“Are we going to see altcoins start to see yet again altcoins start to take some of that market valuation, some of that liquidity, some of the market dominance? I really think that’s the case.”

The crypto strategist is looking at Ethereum (ETH/USD) and highlights that it is far from its all-time high.

“When I look at Ethereum, it’s in a much more healthy cycle. There’s not some absolute major overshoot. It’s not in its all-time highs.”

Merten also tracks the performance of Litecoin (LTC/USD) and notes. that the coin is maintaining its steady uptrend.

“Litecoin, holding up very healthily here. Nothing too crazy.”

Although the broader crypto market is currently going through a correction, Merten says that an altcoin season is in sight.

“What we saw back in the summer was not the altcoin cycle. We have yet to hit that altcoin cycle but we’re getting very, very close. We’ve had our precursor rallies in a lot of these altcoins and I can tell you all, you want to keep an eye on those major altcoins because some of them are starting to hold nicely.”

Merten emphasizes that LTC/BTC is trading near critical support at around 0.004 where it pumped 3x to 5x based on its historical price action. He’s also keeping a close watch on ETH/BTC which he says is also trading at a key support level.

“In this case, what we’ve got are discount opportunities where altcoins are really cheap right now. This is again where you see capital cycle in and out of different markets within the crypto space.”

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Crypto Trader Who Gained 40x in Just 12 Hours Unveils Altcoin Portfolio

A prominent crypto trader and strategist who caught a massive 40x move in less than 12 hours is revealing the altcoins that make up his current portfolio. Crypto Messiah tells his 72,000 Twitter followers that Nsure Network (Nsure) is at the top of his list. The decentralized insurance protocol has surged from a low of […]

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Crypto Newcomer That Surged 373% Remains Massively Undervalued, According to Analyst Josh Rager

Crypto strategist and trader Josh Rager is putting the spotlight on a relatively unknown crypto asset that is quietly printing serious gains. Rager says he believes that COVER Protocol (COVER) remains undervalued even after its ascent from a low of $207.31 on November 26th to an all-time high of $980.79 on December 6th, according to […]

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Top Crypto Analyst Says New DeFi Tidal Wave Coming, With Five Coins Poised to Rally

A cryptocurrency strategist and trader who accurately predicted the 2018 Bitcoin bear market bottom is expecting a renewed tidal wave in the decentralized finance (DeFi) space led by five crypto assets. The trader, known in the industry as Smart Contracter, tells his 71,000 Twitter followers that each asset has the potential to print gains between […]

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These 10 Crypto Assets Could Go Mainstream in 2021, Says Popular Altcoin Trader

Crypto trader and strategist Austin Arnold is naming 10 crypto assets that he believes could have an explosive 2021. In a new video, the Altcoin Daily host tells his 287,000 subscribers why Bitcoin is at the top of his list. The trader points to strong institutional demand even while the leading cryptocurrency trades close to […]

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Crypto Analyst Says XRP Ready to Rip – Here’s the New Target From Credible Crypto

A popular crypto analyst is updating his near-term forecast for XRP. The pseudonymous analyst, known in the industry as Credible Crypto, tells his 82,000 Twitter followers that XRP appears poised to once again make a significant move to the upside. The strategist, who relies on Elliott Wave Theory to assess market trends and investor behavior, […]

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Strategist Who Turned 0.2 Bitcoin Into $100,000 Names Top 5 Crypto Picks

A crypto analyst and day trader known for turning 0.2 BTC into $100,000 in a recent trading competition is listing his top five large to medium-cap crypto picks. The pseudonymous analyst, who goes by the name SalsaTekila, tells his 57,000 Twitter followers that he believes a fresh altcoin season is brewing, although the timing depends […]

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Bitcoin (BTC) $ 37,864.14 0.08%
Ethereum (ETH) $ 2,037.91 0.75%
Litecoin (LTC) $ 69.94 0.47%
Bitcoin Cash (BCH) $ 224.15 0.74%