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Top Trader Says Cardano Looking Better Than Ethereum, Doubles Down on Steep Bitcoin Rise

source-logo  dailyhodl.com 13 August 2021 00:02, UTC

A prominent crypto trader and market analyst is betting big on Cardano and Bitcoin, expecting the two crypto assets to lead the way in a new bull run.

The pseudonymous trader, known as Capo, tells his 142,700 Twitter followers that Bitcoin (BTC) looks ready to launch after breaking out of a two-month accumulation phase below $40,000.

 

“Accumulation complete with the last LPS [last point of support].

UP ONLY season is here. Enjoy the ride.”

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Looking at his roadmap for the king crypto asset, Capo compares BTC’s current price action to the brief accumulation phase seen in September 2020, shortly before it broke out above $11,000.

The trader expects Bitcoin to rally to $50,000 before taking one more step down to accumulate around $40,000 and pushing beyond the $50,000 mark. 

“BTC roadmap

50 thousand -> 40-41 thousand -> consolidation above 50 thousand -> New ATHs [all-time highs]”

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Moving on to Cardano (ADA), Capo suggests that ADA looks stronger than Ethereum (ETH) over the next few weeks.

“ADA/ETH

I prefer holding more ADA than ETH over the next few weeks.

Last bullish confirmation above 57 thousand satoshis”

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Finally, Capo analyzes Ethereum against Bitcoin (ETH/BTC).

The trader thinks the second-largest crypto has the potential to outperform Bitcoin and could even flip BTC for the top position, assuming the crypto markets catch another bullish wave.

“ETH/BTC

If we get the 5th wave in the entire market, Ethereum will probably outperform Bitcoin, and the flippening will be likely.”

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dailyhodl.com