A generally followed crypto analyst is warning the traders to stay away from Bitcoin (BTC) in the short term, while updating his prospects for a rising Ethereum (ETH) -based Altcoin.
In a new thread, pseudonymous crypto trader Altcoin Sherpa tells Are 247,600 followers on the social media platform X that has seen the best crypto assets from Market Cap in recent days ‘Cancer’ price action.
“Cancer -like price promotion for BTC in recent days, better to stay away from the market as in active transactions (impossible).”
According to Sherpa, the flagship could be digital assets immerse To the low range of $ 104,000 if it loses its current support level.
“Still jerky, no real momentum in both directions at the moment. Still long but fairly small size (still have room). Wouldn’t be surprised to see the low $ 104,000 on this point if the current level does not apply to BTC.”
BTC acts for $ 104,549 at the time of writing, a fractional decrease on the day.
Transfer to the S&P 500 -based parody Memecoin Spx6900 (SPX), the analyst out That his graph seems to be healthy and that it must be actively continuing upward as long as BTC remains stable.
“I don’t care what you say, that graph is quite damn incredibly the circumstances. This goes higher in the medium term as long as BTC is stable in my opinion.”
SPX acts for $ 1.18 at the time of writing, a fractional decrease of the day. On May 7 it was appreciated at only $ 0.477.
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Featured image: Shutterstock/Badrus Soleh/Sensvector