Top Analyst Says, In the Coming Weeks, BTC Will Outpace ETH

A crypto analyst who gets a lot of attention thinks that Bitcoin (BTC) could now do much better than Ethereum (ETH).

The fake analyst Kaleo tells his 562,700 Twitter followers that the Ethereum/Bitcoin pair (ETH/BTC) is now trading below a diagonal trendline, which suggests that ETH is likely to gain less than BTC.

“ETH/BTC finally broke beneath the high timeframe support line we’ve been watching.

Remember, this chart only shows relative strength to BTC, so expect to see BTC begin to outpace a bit more rapidly sometime over the next several weeks.”

A bearish ETH/BTC chart usually means that Bitcoin’s value will rise faster than Ethereum’s and the altcoin market as a whole.

Taking a look at Bitcoin itself, Kaleo says that the price of BTC is likely to go up to $30,000 after it bounced back from support at around $21,000.

“High timeframe support has held strong. SPX [S&P 500 index] is currently at 4,000 support, which I still see rallying to 4,300 over the coming weeks. $30,000 is a magnet.”

Kaleo says that Bitcoin will likely gain more speed in the short term if it breaks through resistance at $22,400.

“CPI came in a bit higher than expected and the market is basically flat. SPX / NDX [Nasdaq-100 Index] look primed for a leg higher after a bit of initial volatility, and BTC is knocking on the door of reclaiming a major level it lost last Thursday. $30,000+ is still a magnet.”