On Crypto Banter’s channel, analyst Sheldon has issued a warning. He discussed Bitcoin’s recent sideways movement, saying it does not indicate a directional trend but rather a consolidation phase. Despite attempts to push for a lower low, Bitcoin remains in a bull flag pattern, signaling potential for upward movement in the near term.
While altcoins continue to attract attention, Sheldon issues a reality check for investors. He warns against excessive speculation in meme coins, cautioning that many have recently experienced significant losses.
Looking ahead, Sheldon anticipates a potential move toward the top of the current range, projecting Bitcoin’s price to reach $69,000 to $70,000 in the short term. He advises traders to capitalize on opportunities presented by market dips, stressing the importance of strategic decision-making amidst volatility.
Sheldon explains Bitcoin dominance as a key indicator for altcoin performance. He said that Bitcoin dominance saw another significant downturn, with a large red candle forming on the 12-hour chart. While the market experienced a slight pullback, dominance showed a marginal increase.
However, as the market shows signs of recovery with green candles emerging, dominance is anticipated to decline again. This could signify a favorable environment for altcoins, with potential for significant gains.
Also Read : PEPE Price Eyes A Breakout Rally With Bitcoin’s Resurgence
Looking at how prices are changing, there’s a big red candle, covering up the green one before it. This could mean the direction of things might change, possibly going down. If this keeps up and there’s a bounce back up, it might be a good time for traders to get in, maybe making a lot of money, like 20% to 40% more.
According to him, Ethereum is also performing well, and it is priced at $3,600. He concluded that it could go up by about 10% to 15%.
The Pi Network price charts are showing signs of brewing tension, with the price moving…
The cryptocurrency market continues to keep traders on edge, and XRP is no exception. Let’s…
The Ethereum price soared over 5% this week and surpassed $2,700, while the Shiba Inu…
While the Tron price is trading at $0.27, top analyst Lennaert has forecasted a breakout…
For investors navigating the dynamic world of cryptocurrency, the promise of transforming modest investments into…
U.S. President Donald Trump held a black-tie dinner at his Virginia golf club for 25…