In his YouTube video on Nov. 28th, the popular crypto analyst behind the Crypto Banter channel expressed his continued bullishness on Bitcoin and altcoins, despite the recent pullback in prices.
The analyst believes we are currently confined in a range after Bitcoin (BTC) hit resistance around the $38,000-$39,000 zone. He explained that while some view the move above $38,000 as a bull trap to get traders to open long positions before crashing the price, he would only view it as a trap if Bitcoin made new lower lows below $35,000, which he sees as a key support area.
As long as Bitcoin holds above $35,000 support, the analyst thinks there is still potential for an explosive move to the upside, with targets around $40,000, $41,000, $43,000 and even up to $44,000 in the short-term. He believes the longer period of consolidation has built up the energy needed for a sustainable push higher.
Beyond Bitcoin, the analyst also covered his bullish views on Ethereum (ETH), Filecoin (FIL), XRP and several other altcoins. He is targeting a 25-30% gain on his Ethereum position and up to 50% gains on coins like Filecoin. Much of his optimism stems from his observation that crypto dominance remains quite low, indicating there is substantial room for altcoins to outperform Bitcoin in the next leg up.
While acknowledging the growing bearish sentiment among some traders, the Crypto Banter analyst made it clear he sees the current reset of indicators like the RSI as an opportunity, not a threat. As long as key support levels hold, particularly the $35,000 zone for Bitcoin, he plans to ladder into long positions during any continuation of the recent pullback.
Ultimately, his overarching view is that we are in the “last line of bullishness” before markets finally resume their upward trajectory. But he cautions traders not to get overeager and to take profits on the way up.
