A widely followed crypto analyst says he’s still waiting for a clear point of view after Bitcoin’s (BTC) recent price drop.
Pseudonymous trader Altcoin Sherpa tells his 183,100 Twitter followers that BTC’s price action is up and down at the moment.
[adinserter block="1"]“BTC: Price is fractal, we’re seeing this same price action – stairs up, elevator down. It’s happening on a lower scale than the last few months, though. Let’s see where the smoke clears from this recent move down.”
Sherpa looks at layer-1 blockchain Cosmos (ATOM), which has been steadily climbing against the grain of the declining market as of late.
“ATOM: Lots of interaction with the 200D [exponential moving average] right now, let’s see if it can flip it. Doing that in this current environment would be very very strong in my opinion… “
Turning his sights on interoperability blockchain and Ethereum (ETH) competitor Polkadot (DOT), Sherpa asks his followers for their opinions.
“DOT: Price has been chopping around the last several months, think this is accumulation or price pausing before further dumping?”
Finally, Altcoin Sherpa looks at ETH-based altcoin FTX Token (FTT), the native token of FTX exchange. The trader isn’t a fan of FTT’s price action.
“FTT: A lot of people talking about this one lately- I don’t see it. It’s easy to say that in hindsight with yesterday’s dump but I’ve always thought FTT was kind of a shitty coin to hodl. Yes, [centralized exchange] tokens are supposedly safe in bear markets (see: BNB) but the two are not similar.”
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