Strong altcoins appear poised to rise, according to a prominent crypto analyst.
The pseudonymous cryptocurrency trader known as Pentoshi tells his 809,600 followers on social media platform X that the digital asset market is currently big for altcoins.
“Personally, I like the structure or foundation in place. This looks constructive for another move higher. There is certainly plenty of upside potential *IF* it can move from resistance to support.
I’ve been very bullish on BTC, and this is a type of place where A LOT of alts can’t get stuck on the BTC/USD pivots and bleed against BTC and (Bitcoin Dominance) can continue to rise. It’s just something to be aware of with your exposure. So I definitely wouldn’t pursue late alts. And would only focus on those showing a clear uptrend (higher highs and lows) and continued strength during BTC’s movements so far.
Pentoshi also notes that it appears Bitcoin (BTC) is in an unprecedented “waiting room.”
“It’s hard not to call it a higher peak. Well done to those who had patience. Everyone gets it at the price they deserve.
Bitcoin is trading at $67,319 at the time of writing. The top-ranked crypto asset by market capitalization has largely traded sideways over the past week.
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