Pentoshi: There’s No Stopping the Bitcoin Train After BTC Breaks $48K
According to a popular pseudonymous crypto analyst and trader, known as Pentoshi, there will be no stopping Bitcoin after BTC breaks a $48,000 price level.
Pentoshi shares with his 212K Twitter followers that the $48,000 level is the last point before Bitcoin becomes unstoppable.
“Above $48,000, I think there’s nothing stopping this train. It’s the last level structurally that can constitute a lower high on the macro.
$45,000-$48,000 is very strong resistance in my opinion due to the time we distributed above it. Likely see $40,600 again before any real [breakout].”
The analyst says that all eyes are on $48,000 or a bullish higher-low setup between the high $30,000 and low $40,000 range for Bitcoin.
Regarding Ethereum, the world’s second-biggest crypto by market cap, the trader says that it will set itself up for a bullish explosion right around the $2,700 mark.
“Good area for a higher low is marked on the chart That’s the first area I’ll be bidding personally on my new trading port. I’d like to see us confirm market structure now that we have a higher high, with that follow up on the range highs flipped to support + higher low.”
Pentoshi reconfirms his earlier statement that Ethereum will eventually flip Bitcoin, or overtake it in terms of market cap, while naming a few key catalysts to trigger it.
“ETH going to flip BTC. WIll maintain this point of view, and with everything happening in this space becoming more and more evident.
PoS (proof of stake) coming will reduce inflation further.
Issuance will fall 90% EIP-1559 burn Staking Smart Contracts NFTs (non-fungible tokens) DeFi (decentralized finance).”
At time of writing, Bitcoin is trading at $45,708, and Ethereum is trading at $3,166 according to CoinMarketCap.
