Analyst Maps Next Levels For BTC, DOT, FTT & ATOM!
While Bitcoin price has dropped below $20,000, a renowned crypto analyst and trader claims to be waiting for the right action to predict BTC price.
An anonymous trader who is known as Altcoin Sherpa, informs his 183,100 fanbase over Twitter that Bitcoin’s price action is unpredictable as its hit with pump and dump pattern.
He says that for a few days this kind of momentum is happening on a lower scale and can’t be predicted until BTC claims some stability.
$BTC: Price is fractal, we're seeing this same price action- stairs up, elevator down. It's happening on a lower scale than the last few months, though. Let's see where the smoke clears from this recent move down. #Bitcoin — Altcoin Sherpa (@AltcoinSherpa) September 14, 2022
At the time of writing, Bitcoin is selling at $19,851 after a plunge of 1.53% over the last 24hrs.
Next, the analyst talks about Cosmos (ATOM) which is a layer-1 blockchain platform. In recent times, Cosmos’ price is seeing a rise amidst a bear market.
As per Sherpa, there has been a lot of movement near 200D (Exponential Moving Average) currently and the currency should flip to know its further movement.
$ATOM: Lots of interaction with the 200D EMA rn, let's see if it can flip it. Doing that in this current environment would be very very strong IMO… #COSMOS — Altcoin Sherpa (@AltcoinSherpa) September 15, 2022
Currently, Cosmos (ATOM) is trading at $15.64 with a jump of 7% in the last 24hrs.
The next currency that has grabbed the analyst’s attention is one of the Ethereum competitors, Polkadot (DOT).
He claims that Polkadot has been facing a downward trend for a few months and asks his followers if this is an accumulation period or a halt before another decline.
$DOT: Price has been chopping around the last several months, think this is accumulation or price pausing before further dumping? — Altcoin Sherpa (@AltcoinSherpa) September 14, 2022
FTX Token (FTT)
Altcoin Sherpa concludes his analysis with FTX exchange’s native coin, FTX Token (FTT), which is an Ethereum-based altcoin.
$FTT: A lot of ppl talking about this 1 lately- I don't see it. It's easy to say that in hindsight with yesterdays dump but I've always thought FTT was kind of a shitty coin to hodl. Yes, cex tokens are supposedly safe in bear markets (see: BNB) but the 2 are not similar — Altcoin Sherpa (@AltcoinSherpa) September 14, 2022
He refers to FTX as a shit coin and also compares it with another centralized exchange, BNB which is safe in this market correction.Source