A generally followed Cryptocurrency -analyst and traders lean on bitcoin (BTC) in the middle of a new correction.
Trader pseudonymously known as sherpa tells His 246,700 followers on the social media platform X, which Bitcoin is still in a “strong rais -like trend” even though they break below $ 106,000.
According to the generally followed analyst and the trader, Bitcoin is founded to “bounce” as there is a strong support at about $ 104,000 price levels.
Based On Sherpa’s chart on four hours time frame, Bitcoin can fall lower to just over $ 103,000 and then shop sideways for a while in a consolidation zone.
“Things look okay for now, I would expect more pokes around this area but the longer it is spent here, the better in my opinion. You want to see a good low form.”
Bitcoin shops at $ 105,841 in writing.
Turns to popcat (Waste), Sherpa says Memecoin built in Solana (Solar) Ecosystem is one of altcoins that is in “dangerous territory.” Based on Sherpa’s chart of popcat on four hours time frame, Memecoin risks breaking a decisive support area after printing a baisse -like lower high attitude.
“Coins that were good before Popcat may have just made a lower high and can break the last low. I am not saying it will not bounce but I am much more careful right now than two weeks ago.”
Popcat is traded at $ 0.385 at the time of writing, with about 30% over the past week.
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