The post Analyst Predicts Bitcoin Will Straight Hit $64k, Says One DeFi Altcoin Will Drop Lower appeared first on Coinpedia Fintech News
A widely followed crypto analyst and strategist has shared an interesting Bitcoin chart on social media platform X. According to the chart and analysis, Bitcoinâs next target is at $64k, a resistance level it has been striving to break. He wrote, âStraight to $64k.â
The trader known as âThe Crypto Dogâ admitted to having a bullish bias but believes itâs justified. The analyst discussed buying Bitcoin again after it made a higher low, expecting it to move back to the range highs and possibly break out. Over the last two hours, the trader has been building a long position during small dips, thinking the price might finally leave the current range on the next push up. The analyst stressed that itâs better to go long from the lows rather than trying to buy once the price is near resistance.
The analyst also talked about two altcoins:
According to him, CRV looks bullish and is close to breaking out after consolidating for a month.Next he said that AAVE is under resistance, and while a break could push it back to the highs, heâs cautious. The analyst thinks AAVE might drop lower, so heâs waiting for a better buying opportunity, especially if Bitcoin pulls back.
Whatâs happening in the market today?
Bitcoin is down 2%, with other coins like XRP and Dogecoin also trading in red. BTC hit the $61k levels before hitting reverse. The marketâs bullish trend is being attributed to positive developments in Asiaâs Nikkei 225 index, which lifted market sentiment.Â
This week, key events to watch include a Federal Reserve FOMC meeting on Wednesday, where details about the economy and monetary policy will be discussed. There are also important economic reports coming up, such as the August S&P Global Manufacturing Services PMI on Thursday and home sales data later in the week.Â