Closely followed crypto analyst Altcoin Sherpa is calling for caution amid what he sees as bearish price action for Bitcoin (BTC).
Altcoin Sherpa tells his 219,000 followers on the social media platform X that BTC is continuously printing bearish patterns on the daily chart.
He shares a chart suggesting that BTC is forming a simple set of lower highs and lower lows.
“Even though we have a lot of euphoria on the timeline (and I’m also looking for dips), we have to still remember that BTC is in a one-day bearish market structure.
What would change this? If we break a higher high than $70,000 + get a higher low
Not saying ‘it’s over’ but just be cautious.”
However, the trader suggests that another drop in Bitcoin could present opportunities to get altcoins at a discount.
Looking at Ethereum (ETH) rival Solana, Altcoin Sherpa says that there’s a potential area of interest at the $125…
