Inmortal: ETH To Lead The Altcoin Surge, While BTC Consolidates
According to a pseudonymous crypto analyst and trader, known as Inmortal, Bitcoin might be in consolidation phase for a while, as Ethereum takes lead of altcoin surge.
Bitcoin (BTC)
Inmortal shared with his 98K followers on Twitter that regardless of Bitcoin’s (BTC) recent correction from its all-time high of $67,276.79, he’s not looking to buy BTC dips, as of yet.
Bitcoin’s correction could take several weeks, while altcoins make new price spikes, says the analyst.
“BTC/USD
Price is below old demand zone and currently testing weekly open as resistance.
If we go lower, the next interest area is $58,000 (untaken lows and KEY lvl), maybe a good spot to long, depends on the reaction.
Why I’m not buying dips aggressively? because I think BTC may consolidate below all-time high for a bit, then altcoin run, and weeks later another leg up for BTC. These are just my personal thoughts.
In any case, if BTC finds acceptance above $62,000 (weekly open and old demand) I think we could see a move up to $67,000.”
Inmortal predicts big moves for decentralized oracle network Chainlink (LINK). According him, a 56% rally for LINK from its current price $32 is closing in.
The analyst is also looking into Cosmos (ATOM) – the “internet of blockchains.” Inmortal says that the altcoin might accumulate a little longer before launching a rally above $40 next month.
