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Strong altcoins look poised for a move up, according to a top crypto analyst.
The pseudonymous crypto trader known as Pentoshi tells his 809,600 followers on the social media platform X that the digital asset market is currently in an important spot for altcoins.
“I personally like the structure or basing taking place. It looks constructive for another move higher. There’s certainly a lot of upside *IF* this can be flipped from resistance to support.
I’ve been very bullish on BTC, and this is a type of spot where MANY not ALL alts can get stuck on BTC/USD pivots and bleed vs BTC and [Bitcoin Dominance] can continue up. It’s just something to be aware of with your exposure. So I certainly wouldn’t be chasing lagging alts. And would only focus on ones with a clear [higher highs and higher lows] uptrend and continued strength during BTC’s moves so far.”
Pentoshi also notes that it looks like Bitcoin (BTC) is in an all-time high “waiting room.”
“Hard to not call this a higher high. Congrats to those who had patience. Everyone gets it at the price they deserve.”
Bitcoin is trading at $67,319 at time of writing. The top-ranked crypto asset by market cap has largely traded sideways in the past week.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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