On April 2, Bitcoin ( BTC ) temporarily surpassed $ 60,000 driven by renewed momentum in its slow advance towards all-time highs.
The price of BTC touches $ 60,000
Cointelegraph Markets Pro and TradingView reported a sustained uptrend for BTC / USD, with local highs at $ 60,110 on Bitstamp. A correction thereafter pushed the pair down to $ 59,000, and is hovering around $ 59,420 at the time of writing.
Consistently higher levels indicate that Bitcoin effectively canceled the flash crash that occurred this week, continuing to move in a defined range.
According to well-known Crypto trader Ed, the resistance at $ 60,000 is set to disappear due to the depleting selling pressure on exchanges . However, targets above $ 70,000 may have to wait a little longer.
“ I mentioned targets of $ 73,000 for BTC and $ 2,300 for ETH, ” he tweeted on Friday.
“From what I see now, ETH is on track. I am still not convinced that BTC will hit the target in this cycle but I believe we will see a strong push above $ 60,000 (soon enough). “
Other traders are more optimistic, with short-term estimates such as $ 68,000 and $ 73,000, as well as 2021 targets above $ 288,000.
” In February, the area of ~ 57,500 $ dismissed BTC, but it seems that a few days ago has transformed this same level of support, ” he added the trader Rekt Capital on Twitter.
“Now he has to draw a continuation from here, and today we are seeing a part of it.”
Ether at $ 5,000 is “inevitable”
Crypto Ed’s comments on Ether ( ETH ) come as the largest altcoin in terms of market cap hits $ 2,000 for the first time since February 20 .
After falling parallel to Bitcoin’s price action, over the past week ETH / USD has regained its strength, plotting almost constant rising highs on the daily chart until it comes close to its all-time high of around $ 2,040.
As Cointelegraph reported , Ether price targets are now more bullish than ever and include $ 2,600 as the next stop , with $ 5,000 and even $ 10,000 as options at stake.
Since the beginning of the year, the amount of ETH on exchanges (such as that of BTC) continues to decline sharply.