A widely followed crypto analyst warns the merchants to stay away from Bitcoin (BTC) in the short term, while updating his perspectives on an Altcoin based on Ethereum (ETH).
In a new thread, the crypto pseudonym Altcoin Sherpa trader says to its 247,600 subscribers on the social media platform X that the best crypto asset by market capitalization has seen a “cancerous” price action in recent days.
“Action of cancer prices for the BTC in recent days, it is better to stay away from the market if in the active trades (impossible).”
According to Sherpa, the flagship digital asset could decrease in the fork of $ 104,000 if it loses its current level of support.
“Always jerky, no real momentum in both directions at the moment. Always long but quite small (it still has a place). You would not be surprised to see the $ 104,000 at this stage if the current level does not hold for BTC.”
BTC is traded at $ 104,549 at the time of writing, a fractional decrease of the day.
Passing through the parody based on S&P 500 same spx6900 (SPX), the analyst says that his graph seems healthy and that the asset should continue his rise up as long as BTC remains stable.
“I don’t care what you say, this graph is damn incredible given the conditions. This one goes higher at mid-term as long as BTC is stable, in my opinion.”
SPX is negotiated at $ 1.18 at the time of writing, a fractional decrease of the day. On May 7, it was estimated at only $ 0.477.
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