Trader Says Bitcoin Reclaiming Major Level Would Be Clear Sign of Strength, Could Trigger Bullish Continuation

A widely followed crypto analyst says that the top crypto by market cap may be on the verge of an explosive breakout.

In a new post on Telegram, pseudonymous crypto strategist Crypto Capo tells his 122,005 subscribers that Bitcoin ( BTC ) may be heading another leg up if the top digital asset by market cap can break through the $85,000 resistance level.

“BTC trying to reclaim $85,000 again. That would be a very clear sign of strength and after that, we should see bullish continuation towards the $90,000 levels.”

The analyst previously warned Bitcoin may print a dead cat bounce price pattern, a term used in finance to describe a small, brief recovery in the price of a declining asset.

“Altcoins keep showing strength, and BTC is still trading at $83,000-$84,000. Target for the DCB (dead cat bounce) is $92,000-$98,000.”

Bitcoin is trading for $84,392 at time of writing, flat on the day.

The analyst also says he is leaning bullish on the graphics processing unit (GPU) rendering network altcoin Render ( RENDER ).

“Strong bounce from the same main support. If it reclaims the $4.25 level, then the main target of $6-$7 should be next.”

Source: Crypto Capo/Telegram

Render is trading for $3.93 at time of writing, down 1% in the last 24 hours.

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