Economist Henrik Seberg says the loss of dollar strength could be the catalyst to breathe new life into crypto assets.
Zeberg told his 136,000 followers on social media platform He said it would create a “great environment” for the students.
Zeberg said he is eyeing Jasmy Coin (JASMY), a blockchain-based personal data storage project, to ride the cryptocurrency rally.
“I think DXY and lower yields create a great environment for cryptocurrencies as we head into the final stages of this risk asset bull market.
I think the next phase for Jasmy is the third wave.
Then there will be four waves towards the summer (during which DXY rebounds), followed by a final boost towards the end of the summer and beginning of the fall.
The goal might be “only” $0.3, but for now, the above is my main argument.
I'm Jasmy's father! ”
This economist seems to be using Elliott wave theory in his analysis. According to this theory, a bullish asset will rise in five waves before topping out.
Focusing on JASMY's technicals, Seberg said the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are moving above bullish on the daily chart.
Both RSI and MACD are momentum indicators used by traders to identify possible points of trend reversal.
Seberg says.
“A bullish crossover on MACD.
RSI breaks the downtrend.
We’ve seen this before…just before 400-500% goes even higher.
We expect it to be an even bigger move this time!
Is everyone on board? ”
At the time of writing, JASMY is valued at $0.02, up over 6% in the past day.
Regarding Bitcoin (BTC), Seberg previously said that the crypto king is ready to enter the “melt-up” phase when the monthly RSI reaches 70.
“So I got $110,000 to $115,000 in Bitcoin. Actually, it's part of a larger pattern. You can see this is the beginning of a new bull. [run]However, a long break is required after the blowout top.
But we haven't gotten to the really steep part of it yet.You can see that you reach [an] When the RSI exceeds 70, you will see a truly steep section. ”
At the time of this writing, Bitcoin is trading at $64,400 with a monthly RSI of 68.
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