Alt Coin

Big Move Incoming for One Low-Cap Altcoin As Bitcoin Positions for a Rally: Top Crypto Analyst

A well-liked crypto strategist and dealer is naming one altcoin that’s poised to surge whereas predicting that Bitcoin is gearing up for a rally.

Pseudonymous crypto analyst Pentoshi tells his 425,000 Twitter followers that he’s conserving a shut watch on XYO Network (XYO), a blockchain that lets customers mine tokens whereas recording datasets which have locational and geographical info tied to their smartphones.

According to the crypto strategist, XYO is threatening to take out a essential resistance and ignite a potential surge of over 70% from its present price of $0.035.

“XYO on my watchlist.

#3 in quantity on Coinbase is a nice signal.

Looking for S/R (resistance to help) flip for clear entry.

Volume leads me to imagine a greater transfer is coming however should watch out with entries so I’ll pay a little for affirmation.”

Source: Pentoshi/Twitter

As for Bitcoin (BTC), the crypto strategist says that the main cryptocurrency has seemingly printed a native backside and is now making ready for a bounce.

According to Pentoshi, the present bearish sentiment will force retail merchants to leap in on Bitcoin as soon as BTC strikes greater.

“BTC replace: squiggly line doing its work. Caught some little fish within the internet. Life is nice.

Plebs promoting into absorption.

Imagine not being bearish from $60,000 down till right here after which flipping [bearish] at areas of demand. Liquidity stops price from transferring. Price has met it. When plebs realized they flipped quick, they may develop into patrons as price forces them to behave.”

Source: Pentoshi/Twitter

Pentoshi provides that BTC’s false break beneath help at $46,000 places the king crypto in a place to liquidate shorts and drive costs to round $53,000.

“Thick bids with low effort/conviction from sell-side = sell-side offside.

Breakdown + reclaim what we have to get again to seize that liquidity above.

BTC arrange for that right here to squeeze.”

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Featured Image: Shutterstock/Vectorpocket/Natalia Siiatovskaia

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