The widely respected cryptocurrency analyst remains bullish on Bitcoin (BTC), updating his outlook for layer-1 blockchain Aptos (APT) and one memecoin that has posted massive gains over the past 10 months.
In a new strategy session, cryptocurrency trader Altcoin Sherpa tells his 224,300 followers on social media platform
“BTC: This should be the right spot for a bounce. Close enough to .50 (Fibonacci retracement level). 200-day exponential moving average (EMA) + deep low. “I remain optimistic until I see otherwise.”
Fibonacci retracement is a technical analysis method that indicates potential support and resistance points for an asset.
Bitcoin is trading at $62,251 at the time of writing, up 2.4% over the past day.
Moving on to smart contract platform Aptos, Sherpa said the charts look good and he is looking to accumulate the asset near the $7.50 price tag.
“Fair. I’m going to buy it at $7.50. The charts still look good.”
APT is trading at $8.42 at the time of writing and is up 4.52% in the last 24 hours.
Concluding his analysis of dog-themed asset dogwifhat (WIF), which has seen a massive gain of 166,566% since December, the analyst says the cryptocurrency king could hit a $3 price tag as long as it stays healthy.
“WIF retest has occurred. $3+ as long as BTC stays healthy.”
The value of WIF is $2.66 at the time of writing, up 17% in the last 24 hours.
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