Widely followed crypto market analyst Pentoshi thinks that Bitcoin’s run-up is giving traders a prime opportunity.
The trader tells his 309,300 Twitter followers that Bitcoin (BTC) moving higher before dragging the crypto market up creates an opportunity to compound Bitcoin profits with altcoins.
“If $Btc up + alts down it’s truly a great opportunity historically because you get to ride Btc to new ath’s [all-time highs] then compound alts to ath’s
Why better opportunity to achieve your goals than that for those who get it
When you’ve experienced multiple cycles you know. Take what we get”
At the time of writing, Bitcoin is trading at $56,856, according to CoinGecko. Pentoshi thinks that all-time highs are almost certain for BTC. But traders could still expect to see a dip below $55,000.
He’s looking at $73,200 and $85,000 as the next levels for Bitcoin to hit in Q4.
“58k hit, so far so good
So what next?
I think best case scenario for dip hunters now is 53-55k for a [higher low]
Def feels like a lot of people are offside since much lower, and Bitcoin is in a new trend
ATH’s seem almost certain for Q4”
He reminds traders that while Bitcoin moves in a strong uptrend, dips become shallow with fewer to take advantage of.