Macroeconomist Henrik Zeberg predicts a rally for BTC and the stock market

The expert pointed out that bitcoin is oversold and trading below its fair value

03.05.2023 - 15:45

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2 min

Macroeconomist Henrik Zeberg is predicting both Bitcoin (BTC) and US stocks are on the verge of a massive upswing.

Zeberg tells his 109,900 Twitter followers that he believes Bitcoin will soon break out from the $28,000 level and cross $30,000.

Zeberg shares a chart from crypto-focused hedge fund Swissblock that indicates Bitcoin is oversold and trading below its true value.

“Bitcoin $28,000 is the battleground. Swissblock’s indicators tell us the uptrend is coming next!”

Bitcoin is trading for $28,665, up 2.2% during the past 24 hours.

Zeberg also believes stocks are about to experience a “blow-off top,” and predicts the Federal Reserve will start printing more money, injecting liquidity into the markets.

He uses the Fibonacci Ratio within an Elliott Wave structure to predict the S&P 500 will skyrocket beyond 5,700 points before imploding down to 1,567 points.

“Lesson of the Day:

‘Wealth cannot be printed’ (Feeling of Wealth) All the ‘Wealth’ following the start of Money Printing will eventually collapse.

The macro expert also says that multiple indicators are flashing bullishness for the Dow Jones Industrial Average (DJIA) index, including the Relative Strength Index (RSI), a technical indicator used in trading to gauge an asset’s momentum, and the moving average convergence divergence (MACD), a trend-following indicator.

“There is NOTHING BEARISH about this chart DJIA. This is as technically bullish as they come. Furthermore, economy is not in recession and inflation cools. Goldilocks phase and blow-off top are developing (no matter how much you swear).”

This material is taken from the website https://dailyhodl.com.

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