Crypto Analyst Pentoshi Lays Out Most Likely Next Moves For BTC, ETH

A popular crypto analyst, known as Pentoshi lays out his projection for the “highest” probability moves for the two largest crypto assets by market cap: Bitcoin (BTC) and Ethereum (ETH).

Bitcoin (BTC)

Pentoshi shared with his 558.2K followers on Twitter that he assumes Bitcoin to continue to rally in the near term towards resistance at $35,000.

“Personally think this is the path for BTC if things go well. $33,000-$35,000 for upside then back to the lows.

As what I view as highest probability currently.”

https://twitter.com/Pentosh1/status/1531378073379258368

At time of writing, BTC trades at $29,784, down 6.6% on the daily chart.

Ethereum (ETH)

Looking into the leading smart contract platform Ethereum, Pentoshi says that it looks ready to rally above $2,000.

“In regards to ETH, have been talking about this equal lows since December. Yes, since December. 

Up then down to clean those up (eventually sub $1,700 in my opinion) after lower high is put in place.”

https://twitter.com/Pentosh1/status/1531381988988489729

At time of writing, ETH trades $1,815, down 6.7% on the daily chart.

While Pentoshi anticipates both BTC and ETH to move up, he warns that the rallies likely wont last.

“Now that we are getting the bear market rallies as discussed, it’s important to remember them for what they are at the end of the day. Trojan horses designed to extract value from participants. That is the mindset to approach them with, in my opinion.” 

https://twitter.com/Pentosh1/status/1531279960526229510

Pentoshi notes that the rallies are likely designed to entice retail traders to take position at higher prices before Bitcoin and Ethereum retrace back to their respective lows.