In his latest video, analyst Davinci discussed the potential impact of Bitcoin roll-ups on the cryptocurrency’s value, suggesting a remarkable tenfold increase. While roll-ups have historically been associated with Ethereum, a team of crypto developers believes they may soon revolutionize Bitcoin’s transaction capacity and functionality.
According to Davinci, Bitcoin is currently struggling to break free from its current situation on the charts. Despite attempting to rally again, he anticipates that this might be its last push before a potential breakdown. He notes that if Bitcoin drops back to or below $60,000, it could mark a critical moment.
There is a chance of a bounce from that level, but Davinci suggests considering a short position. Assessing the risk-reward ratio, he highlights the potential for a downward move, possibly reaching down to the red line. This presents an opportunity for a profitable short trade on Bitcoin, which he recommends considering if it was missed earlier.
Turning to Ethereum, Davinci observes that it keeps trying to go up but keeps getting stopped by a price level that used to be its support, now acting as tough resistance. If Ethereum drops below $3200, it could be in big trouble, possibly falling even more.
Analyzing where Ethereum might go next, Davinci believes that $2500 could be a significant target for its price to drop. This suggests that Ethereum might have a rough patch ahead. However, both Ethereum and Bitcoin are expected to do well in the long run, despite challenges from regulators like the SEC and governments.
In conclusion, Davinci confidently declares, “You cannot stop a technology whose time has come,” assuring his audience of brighter days ahead in the world of crypto.