After FTX in the cryptocurrency market, the waters did not completely calm down. There is no clarity yet on where the leading crypto Bitcoin (BTC) and altcoins will go. A mysterious crypto analyst who predicted the end of Bitcoin’s (BTC) bull market last year shared his new predictions. The analyst says that a rival of the leading altcoin Ethereum (ETH) is preparing for a rally. He also suggests that good days await Chanlink (LINK).
“I bought some in this altcoin project, I will continue to buy it!”
The mysterious crypto analyst, nicknamed Pentoshi, shared with his followers about the market outlook. The analyst says that the smart contract platform Avalanche (AVAX) is bullish on the lower timeframes. In this context, Pentoshi makes the following statement:
I bought some AVAX. I’ll keep looking to add at the bottoms. I think a pretty good low time frame structure is forming.
AVX price chart / Source: Pentoshi / TwitterIf Avalanche hits Pentoshi’s initial target of $14.83, there is a potential upside of around 10%. Also, the Ethereum rival would have posted a 44.8% gain if it hits the analyst’s next level of resistance at $19.78. At press time, AVAX was trading at $13.70, down 0.69% on a daily basis. The altcoin reached an all-time high (ATH) at $146.22 about a year ago. However, it has seen drastic drops with the crypto winter. AVAX is currently more than 90% off its peak.
“Bitcoin has its place to work, LINK will be at this level soon!”
cryptocoin.com Pentoshi, whose predictions we have included, then looks at the leading crypto Bitcoin. He says that BTC still has room to work before it encounters a key resistance level around $17,500. Pentoshi makes the following assessment based on this:
If you don’t like the idea, you don’t have to follow it. You are an adult. Adults decide. Either way, it’s been going well so far. It’s up to you to manage your positions. I’m just sharing ideas. For now, I’m still trading on a small scale.
BTC price chart / Source: Pentoshi / TwitterAt press time, Bitcoin was changing hands at $17,094, up 0.79% on a daily basis. The leading crypto stands in the green 3.25% on a weekly basis. However, Bitcoin is far from the $69k days it saw at the end of last year.
Pentoshi is finally considering the decentralized oracle network Chainlink (LINK). The analyst predicts an increase of about 20% from its current price of $7.35 for the altcoin. In this regard, he uses the following expressions:
LINK update: $8.88 soon! So far it is running on schedule.
LINK price chart / Source: Pentoshi / Twitter
