The seasoned password merchant warns that the current bounce in the Altcoin market will have a short lifespan.
A pseudonym analyzer says that the encryption is still weak and the latest meetings will lead to other legs for 266,500 followers in social media platform X.
According to the analyst, the bounce has not changed the weak market structure of encryption.
“I still put on a high time frame until it is proved in different ways.
This is not known why this is not a relief rally, and the market will not continue to be faster for the next few months.
The chart is still broken. ”
In detail about his weakness in encryption, the merchant said that the decline will continue if Bitcoin (BTC) does not support the main price area in the instant messaging platform telegram.
“As I said on another day, we think we are in the part that can be modified.
I will look at how Fartcoin, Hype, PEPE, ENA, and Bera continues to trade.
If it’s a bitcoin dominant macroscopic trend, there’s no reason to assume a change, and if BTC can support $ 90,000- $ 93,000, the success of ALTS will be reduced. ”
At the time of writing, Bitcoin is trading for $ 87,813.
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Created image: Midjourney