Bitcoin and Ethereum price alert from a top trader

A prominent crypto trader has predicted that Bitcoin's key support level will be breached before BTC marks another upward move.

The Alias ​​Alias ​​"Flow Horse" share with his followers on social network X (Twitter) that multiple Bitcoin indicators point to the $60,000 support not holding before the leading cryptocurrency marks a reversal in trend.

“I'm pretty confident that Bitcoin will drop below $60,000 again. Although we are still in the middle of the range, continued consolidation and waning demand almost always push the price down before going vertical again. "

Earlier, Flow Horse mentioned that in his opinion as Bitcoin (BTC) as well Ethereum (ETH) "create a bear trap', where an asset misleads short sellers by appearing to be in a sustained downtrend before making a significant uptrend.

However, while the analyst predicts a rally for the two leading cryptocurrencies, he expects this surge to be short-lived for both BTC and ETH.

"This applies to Bitcoin and Ethereum. I think they are likely to bottom out soon before rebounding and then going lower again".

At the time of writing, Bitcoin is trading at $64,298 and Ethereum is valued at $3,496.

He also notes that his short-term bullish outlook for BTC and ETH extends to the broader altcoin market.

"It's worth mentioning that while it's reasonable to be bearish on altcoins over the medium to longer term, given that they peaked months ago and collective sentiment is now catching up, they're probably closer to a temporary bottom than to anything else. "