Crypto Analyst Who Called Bitcoin’s Parabolic Rally Picks Altcoin Set To Pop
26 Octubre 2023 - 6:00PM
NEWSBTC
Predicting the Bitcoin price movements and when altcoin prices will
rally again is not a small feat but one analyst has managed to do
so. Crypto analyst TonyTheBull has been calling for a bull market,
saying that this cycle differs from previous ones in the fact that
there will be a rally this year. This proved to be true last week
when the price of Bitcoin started surging and hit as high as
$35,100. Now the analyst has called the next altcoin to outperform,
and it already is. Fetch (FET) Is Next Altcoin In Line In the
latest iteration of the CoinChartist (VIP) newsletter, crypto
analyst TonyTheBull revealed that Fetch (FET) was his next pick
after the Bitcoin breakout. He revealed that he had previously
bought FET which ended up outperforming in January, and believes
the same will be the case here as well. Related Reading: Bitcoin
Resumes Rally After Brief Hiatus, Here’s What Happened FET which is
one of the top AI-powered crypto tokens is already on the rise
after the analyst called it at the $0.24 level. TonyTheBull also
posits that a Raging Bull indicator flipping on would be able to
confirm further upside. “Waiting for the Raging Bull to turn on
would help confirm increased bullishness in the altcoin,” the
newsletter read. Source: CoinChartist The Raging Bull Indicator,
explained the analyst, “was designed using the Relative Strength
Index to help indicate when Bitcoin or other assets are in a bull
market, and more importantly, and impulsive like trend.” Basically,
this indicator helps to show the strength of a cryptocurrency.
Looking at FET’s performance since the call, it has already climbed
over 30% and is now trading above $0.3, hitting a local peak of
$0.32 on Wednesday. FET price sitting above $0.29 | Source: FETUSD
on Tradingview.com Bitcoin Not The Only One Looking Good Despite
Bitcoin still looking incredibly bullish on the charts, the analyst
points out some altcoins that have had their Raging Bull Indicators
turned on this year as well. The first on the list is Solana whose
indicator turned on for the first time since 2022. Following this,
the digital asset went on a massive run but it might not be done.
Related Reading: Bitcoin Price Crosses $35,000, Here’s Why
TonyTheBull revealed that the last time this indicator was turned
on, Solana blew up by 500%, and then continued on to do a 17,000%
rally. So if it sticks to historical performance, the Solana rally
might only be in its early stages. Source: CoinChartist The next
altcoin to appear on the list is Chainlink’s LINK. LINK moved from
around $7 to over $11 in a matter of days. But just like Solana,
this coin may only be in its early stages. LINK’s Raging Bull
Indicator last turned on in 2019 and the coin saw a “700% in the
near term, and more than 9,000% in total.” The analyst further
added, “This might not be a setup to sleep on.” Follow Best Owie on
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occasional funny tweet… Featured image from Binance, chart from
TradingView.com
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