Loma: Bitcoin will break through the $28,000 resistance level

Cryptocurrency analyst Loma, who has more than 280,000 followers, said he believes Bitcoin will eventually break through resistance around $28,800.

However, the caveat is that a breakout may take time, and BTC may test the patience of Bitcoin bulls.

“Ideally, if this consolidation continues to the upside, we will no longer have the opportunity to make spot buys at levels around $26,500 to $25,500.

The most likely scenario is to be caught between daily highs/daily lows before moving higher.

• If no position is opened, open a position through range trading.

• If you're already on board, this should be a test of patience more than anything else. "

Loma’s chart shows that he appears to be predicting a Bitcoin breakout before the end of April, leading to a strong rally towards his target of $38,000, with BTC trading at $28,487 at the time of writing.

As for Litecoin, he believes that LTC is preparing to rebound towards the key psychological resistance level of $100. According to Loma, Litecoin’s reaction at the $100 price level will determine whether LTC rebounds towards his target of $140.

“Want to see the reaction to the psychological + technical resistance around $100. Any strength above this would lead to a quick drop to $130-140 in my opinion. Binance-CFTC [Commodity Futures Trading Commission] Lows Are Defining Good measure of risk.” At the time of writing, LTC is worth $87.54.

A prominent crypto analytics platform says an indicator could be a sign of Bitcoin's (BTC) next big rally amid a swarm of whale trades involving the king of cryptocurrencies.

Santiment: Stablecoin indicators indicate that BTC may rise sharply

Cryptocurrency data company Santiment said traders should pay close attention to the market capitalization of stablecoins such as Tether (USDT), USD Coin (USD Coin), Binance USD (BUSD), Pax Dollar (USPD) and Dai (DAI).

Santiment said that the combined purchasing power of the top five stablecoins is $126.31 billion, more than double the value in March 2021. Bitcoin's continued rise may depend on the growth of the top five stablecoins by market capitalization.

"With a great first quarter coming to an end, the resurgent cryptocurrency market has the combined purchasing power of USDT, USDC, BUSD, DAI and USDP at $126.3 billion. This week's losses have tapered off. A rise will herald a rise in Bitcoin The probability is greatly increased."

However, Santiment also issued some warnings to Bitcoin holders. The analysis company said that the five largest Bitcoin transactions in 2023 all occurred in March, indicating that large BTC holders may start to profit.

"Based on the very large transactions that occurred in March, and the 10-10,000 BTC address tier continuing to decline (by percentage) and taper off (by total address count), if you expect to see Bitcoin surge to $35,000 and beyond, it looks like There are definitely some warning signs to be wary of…

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Alex Krüger: Bitcoin plays a new role

Alex Krüger, a well-known economist and crypto analyst with 150,000 followers, said that Bitcoin (BTC) as an asset now plays a different role in investors’ portfolios than in the past, and BTC will not be the same as it was ten years ago. Make anyone rich, but now it is becoming an efficient way to preserve wealth and store value .

"People should no longer be able to get rich by buying Bitcoin. That ship has sailed. Bitcoin is now used for wealth preservation, attractive risk-adjusted returns, trading and hedging in fiat systems."

However, the trader also said that the possibility of Bitcoin rising 10x from the lows remains, which would mean a price near $150,000 at the top of the next bull market peak .

Krüger recently listed eight reasons for a bullish reversal in BTC’s current market structure:

-Multi-month consolidation

-Momentum indicator turns

-The bottom has the largest historical volume

- Higher lows on very high volume

- Engulfing candles on higher volume

-Bounced off 200 DMA

-The top of the range coincides with the 200WMA

-Empty bag volume above.

At the time of writing, Bitcoin is trading at $28,307.

Justin Bennet: Ethereum breaks through $2,000, strong short squeeze

Justin Bennet, a well-known trader with 100,000 followers, said that Ethereum (  ETH  ) may be preparing for a rebound to liquidate those bearish traders .

He said Friday's rebound in the S&P 500 Index (SPX) could hint at the short-term performance of the crypto market. Cryptocurrencies tend to follow the stock market, but there appears to be a lag between the two asset classes. Bennett added that if cryptocurrencies take cues from stocks, he believes Ethereum will find resistance at $1,840.

Bennett said an Ethereum breakout could trigger a short squeeze, with “significant” short liquidation occurring above ETH’s $2,000 price level. A short squeeze occurs when a large number of traders who are short an asset decide to cut their losses in response to an unexpected price increase, which then triggers an additional rally.

“This may be telling as crypto likes to target these areas, and $2,030 was the August 2022 high. More long liquidation below current levels, but distance matters, hence the short liquidation as high as $2,000 It may affect ETH in the short term."

However, Bennett said time is running out for cryptocurrencies and Ethereum. According to traders, an Ethereum short squeeze is definitely going to happen in the coming days. Otherwise, he said the rebound may not materialize at all.

“But I would like to see cryptocurrencies ‘catch up’ to the stock market sooner rather than later, if this is to happen. If we don’t see ETH unwinding these shorts in the next few days, then this is unlikely to happen.”

At the time of writing, Ethereum is trading at $1,818.

Altcoin Sherpa: Two altcoins to watch

Altcoin Sherpa, a well-known trader with 190,000 followers, said that Bitcoin may pull back and the $25,000 level may not be maintained, but when BTC falls below $24,000, Bitcoin bulls would be better off waiting to buy on dips. At the time of writing, Bitcoin is trading sideways this week at $28,571.

Additionally, Altcoin Sherpa focuses on two altcoins, AVAX and FTM .

Altcoin Sherpa suggests that AVAX may be ready to break through the $22 resistance and enter a new trading range with a high of $30.

" AVAX : The hold on this one looks strong, and I think it will have another upside soon. The 200-day EMA initially acts as resistance (normally), but I think this will make a strong move above $22 soon. "

At the time of writing, AVAX is worth $17.22.

Altcoin Sherpa also follows Fantom (FTM), which is currently up 135% since the beginning of the year.

Analysts say FTM may be preparing for another rebound.

" FTM : Still looking pretty good overall. I think it's forming some kind of low and will move higher again."

The chart shows that the next level of resistance for FTM appears to be at $0.60, with FTM trading at $0.43 at the time of writing.

Rekt Capital: Bitcoin is about to make history and achieve a key upward breakthrough

Identified by Rekt, a well-known trader with 340,000 followers, BTC is entering above key macro falling resistance in April, a trend line that has kept Bitcoin bearish since hitting an all-time high in November 2022.

"Tomorrow, BTC's monthly candle will close above the macro downtrend to confirm a new bull run and BTC is at a critical moment in making history."

Rekt also stated that BTC’s explosion occurred exactly 396 days before the Bitcoin halving, which is scheduled to take place in April next year. He added that in 2019, Bitcoin also exploded for exactly 396 days before the 2020 halving.

" BTC tends to break its macro downtrends about a year before the upcoming halving, and this time is no different "

He stated that another factor favoring Bitcoin is that a quarterly bullish engulfing candle just closed for BTC . A bullish engulfing candle is a green candle that completely overlaps the previous red candle on both the open and close prices.

"BTC is on the verge of confirming its first quarterly bullish engulfing candle since early 2020. Historically, quarterly bullish engulfing candles have preceded multiple quarters of gains."