A widely followed crypto analyst warns that a competitor of Dogecoin (DOGE) can suddenly collapse in value.
In a new thread, the cryptocurrency trader Pseudonym Altcoin Sherpa said to its 248,700 subscribers on the social media platform X that Dogwifhat (WIF) must contain $ 0.78 as a support where it can enter a lasting bearish phase.
“WIF, these levels must hold here or its gulag for many of these Shitcoins. A frightening situation and many of them have lowered market structures on the lower time. ”
WIF is traded at $ 0.77,791 at the time of the editorial staff, flat during the day.
Then, the analyst shares a graph suggesting that Bitcoin (BTC) is preparing for a massive escape to a new summit of $ 124,000.
“Everything slowly bleeds with the hash btc. It would be a shame… ”.
He also says that it remains optimistic about Bitcoin, because the flagship asset of cryptography continues to show market strength in the midst of difficult macroeconomic factors.
“War. No rate drop. And BTC is still more than $ 100,000? Table.”
However, the analyst warns that Bitcoin may have a sudden correction if unexpected negative economic news.
“Do not really rush into too many positions. Currently underwater on certain recent purchases, but it’s ok. I think you can afford to be patient overall. BTC is still in an uncertain field and obviously a bad tweet could quickly send us less than $ 100,000.
Bitcoin is negotiated for $ 104,173 when writing the editorial’s moment, flat.
Finally, the analyst indicates that the hyperliquid of the layer 1 protocol (hype) may not yet find a local background and can retest the level of Fibonacci retracement at $ 31.84.
“The media threshing withdraws a little, I think this thing goes to $ 30 if BTC continues to bleed and cut. However, it is one of the best coins this cycle and I will think that it will finally go much higher. I will always keep a pile.”
Hype is traded at $ 36.29 at the time of writing, down 7.3% in the last 24 hours.
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