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Analyst: Crypto Markets May Gearing Up for Massive Surge as Bitcoin continues to climb



Bitcoin has been up and running for weeks, and now it is again approaching the $ 8000 region, despite having increased sales pressure earlier this week. In spite of BTC's upward momentum, the aggregate crypt markets have generally failed to surpass Bitcoin since it first began to rise.

Anyway, an analyst is now expressed the belief that altcoins currently give up a big move up which can be triggered by Bitcoin consolidate.

Crypto Markets Climb as Bitcoin Approaches Key $ 8,000 Level

Today, Bitcoin trades over 8% to today's $ 7,960, which has led most major altcoins to climb.

Today, Ethereum is trading just under 7% to today's price of $ 255. The XRP is up nearly 8% to today's $ 0.40, and Bitcoin Cash is up 1

3% to today's $ 410.

Although today it has been positive for the aggregated crypto markets, Bitcoin looks up almost 100% while looking at a 90-day timeframe, while Ethereum is up 72% and XRP is only 20.5%. Taking this into account, it becomes clear that altcoins have significantly more space to increase in the near future, which can occur when Bitcoin's price finds greater stability and begins to form a consolidation pattern.

The cryptomist, a popular cryptocurrency analyst on Twitter, discussed this possibility in a recent tweet, explaining that a great move for altcoins may occur towards the end of this month.

"BTC Flagged form in 4 hour timeframe. I expect this to be destroyed by the month, then about May 29. Support low as 7.2, resistance high as 8080 regions. If btc stays within this pivot to the end By the month, I ALWAYS expect TO MAKE A RUN! "She explained in a recent tweet.

Analyst: Etereum Can Increase in the Future Days

Although the aggregated crypto markets It may take a few weeks to experience some significant upward momentum, Ethereum can give itself a surge over the next couple of days.

The cryptomist also discussed this in a recent tweet, explaining that she believes that ETH may experience some upward momentum before the 21st of this month.

"$ ETH Not too unlike BTC, but we are within 2 hours of time frame. RSI pennant also targets this candle. Expects significant movement before 21st, which could see push with alts. Resistance to the 258 region," she explained.

Depending on how Bitcoin responds to the lower $ 8,000 regions, it is likely that traders and analysts will get a better understanding of where the general crypt markets are heading next.

  Featured image from Shutterstock. 




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