Analyst Josh Rager says he’s buying the dip on four altcoins in the aftermath of the widespread crypto market sell-off.
After Bitcoin dropped from $12,042 down to $10,325 in just over 24 hours, crypto analyst Josh Rager is bullish on Chainlink (LINK).
He says the coin is historically one of the fastest to recover after a major market correction. In addition, Rager tells his 83,000 followers on Twitter that he’s also buying the DeFi darling Yearn.Finance (YFI), the cross-blockchain platform Polkadot (DOT), and the decentralized exchange token Serum (SRM).
Fellow analyst Cred tells his 167,000 Twitter followers that BTC has dropped below a key level of support and risks an even larger move to the downside.
“In times like these it’s most difficult to adhere to a high time frame perspective. Just sharing my views from the monthly.
BTC: Positive as long as support at $10,700/mid-$10,000 holds. ETH: Positive as long as support at $390s holds. Wicks and shorter-term PA below are acceptable.”
Bought $ETH here at $393.
May look like an idiot by the end of the week, but it’s unlikely I regret this decision in terms of the trading process.
— Cred (@CryptoCred) September 3, 2020
Meanwhile, veteran strategist Tone Vays says he’s expecting BTC to correct by about 30%, as it has historically done many times in the past. He’s a buyer in the $9,500 range.
“Going to $12,000 and then dropping to $9,000 is pretty much almost a 30% correction… I’m not expecting $7,000, but I am expecting $9,000.
I plan to be setting my limit orders around $9,500. I would like that buying up into it.”
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