Here’s What’s Next for Bitcoin, Cosmos, Polkadot and One Ethereum-Based Altcoin, According to Top Crypto Trader
A widely followed cryptoanalyst says he’s still waiting for a clear point of view after Bitcoin’s (BTC) recent price drop.
Pseudonymous trader Altcoin Sherpa says his 183,100 Twitter followers that BTC’s price action is up and down at the moment.
“BTC: Price is fractal, we see the same price action – ramp up, lift down. It’s happening on a lower scale than the last few months. Let’s see where the smoke clears from this latest move down.”
Sherpa look on layer-1 blockchain Cosmos (ATOM), which has been climbing steadily against the grain in the declining market recently.
“ATOM: Lots of interaction with 200D [exponential moving average] right now, let’s see if it can turn it around. To do that in this current environment would be very very strong in my opinion…”
He sets his sights on interoperability blockchain and Ethereum (ETH) competitor Polkadot (DOT), Sherpa traces his followers for their opinions.
“POINT: The price has decreased in recent months, do you think this is accumulation or price break before further dumping?”
Finally Altcoin Sherpa look on ETH-based altcoin FTX Token (FTT), the original token of FTX exchange. The trader is not a fan of FTT’s price action.
“FTT: A lot of people have been talking about this one lately – I don’t see it. It’s easy to say in hindsight with yesterday’s dump, but I always thought FTT was a bit of a crap coin to hodl. Yeah, [centralized exchange] Tokens are supposedly safe in bear markets (see: BNB), but the two are not the same.”
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Featured image: Shutterstock/klyaksun
