Alex Kruger, a popular analyst, recently expressed his confidence in the current cryptocurrencies and the rally. The analyst also commented on his position on cryptocurrencies. Here are all the details…
Alex Kruger made a statement on cryptocurrencies
Alex Kruger shared his expectations for cryptocurrencies in his latest X post. He said that everything is “pumping” and emphasized his maximum long stance. It’s too early to worry, Kruger said, adding that prices often rise much more than expected before falling. The analyst’s message is clear… Instead of fearing corrections or market tops, investors should accept momentum. And thus benefit from the upturn. Kruger’s perspective reveals a critical trading mindset. Because markets are cyclical, Kruger argues that trying to time exits precisely often results in lost opportunities.
His advice to be at peace with not selling right at the peak is consistent with the more general idea of riding bull markets rather than obsessing over potential dangers. Bitcoin’s current price action supports this idea. Bitcoin has been on a remarkable upward trajectory, most recently reaching $96,500. The strong market health is illustrated by the price trading well above key moving averages such as the 50, 100 and 200 EMAs on the chart. This indicates continued bullish momentum. The rally began in late October, when Bitcoin broke out of a downward channel that had been holding it back for months.
What to expect from the Bitcoin price?
The price reached new local highs as a result of the surge in buying interest caused by the breakout above $75,000. The RSI, although currently in overbought territory, points to additional upside potential if momentum continues. The psychological $100,000 level, which could attract traders, is where immediate resistance lies. 89,000 and $79,000 offer strong support on the downside. These levels are crucial for the overall uptrend to be sustained. Volume is still high despite a slight contraction, indicating continued market interest.
The current state of the market is reflected in Kruger’s maximum long position. Kruger’s optimism is supported by the Bitcoin chart, which shows that additional growth is likely if it breaks $100,000. However, respecting the pump also requires paying attention to signs of fatigue, which guarantees that traders are ready for any correction. For now, Bitcoin continues to lead the cryptocurrency market volatility.
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