Bitcoin Could Reach $32,000 Before Correction, Analyst Predicts

Crypto Trader Says Bitcoin (BTC) on the Cusp of Reaching ‘Next Big Level’

• Crypto trader Altcoin Sherpa says that crypto king Bitcoin (BTC) could surge to a new 2023 high before undergoing a correction.
• Analyst suggests BTC could go up by single-digit percentage points from current levels to $32,000.
• Ethereum (ETH) trading against BTC (ETH/BTC), according to Altcoin Sherpa, could fall against the flagship crypto asset and target the range low of around 0.05307000 BTC, or $1,614.

Bitcoin Prediction

Pseudonymous analyst Altcoin Sherpa believes that Bitcoin is on the cusp of reaching its “next big level” at $32,000. If it reaches this then it may potentially drop drastically after the modest rally. The trader commented: “Looking like a grind here but the next big level is $32,000 in my opinion. Seems likely that goes there before any big move to the downside – probably a lot of liquidity up there to be collected. Or this just breaks through $32,000 and continues to $40,000… not sure. Either way, $32,000 is coming in my opinion.”

Ethereum Trading

Altcoin Sherpa also believes that Ethereum (ETH) trading against BTC (ETH/BTC), could fall against the flagship crypto asset and target the range low of around 0.05307000 BTC, or $1,614: “This has chopped for two years and I still think it’s going to the lows… ETH/BTC is a good macro indicator for altcoins and as long as this one does poorly altcoins probably do as well (as a whole).”

Pepe Memecoin Prediction

The pseudonymous analyst also shared his thoughts about Pepe memecoin predicting that PEPE could surge by nearly 45% from around $0.00000162 to $0.000002348 before cooling off: “I still am exposed to this one and there’s nothing but hot air above this level… I still think it goes to the 0.50 Fibonacci level at a minimum before this current run is over and I’ll be taking profit around there.”


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