Bitcoin

Sherpa

<p><strong><a href="https://x.com/AltcoinSherpa/status/1705220218367193178?s=20" target="_blank" rel="noopener noreferrer nofollow">According</a> to Altcoin Sherpa, top-notch analyst, the overall market structure of Bitcoin hasn’t experienced significant changes. He believes that the market is either forming an unusual higher low or is in a consolidation phase, preparing for the next downward movement.</strong></p> 
<p>Altcoin Sherpa, a well-known trader, noted that a cluster of 1D EMAs are currently acting as resistance, with no clear changes observed in the market dynamics. </p> 
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<p>He expressed a neutral stance on the future price movements of Bitcoin, stating, “I don’t personally have a super strong opinion in regards to where price goes.” However, his intuition suggests a potential rise to 28k in the mid-term, but he emphasized the uncertainty surrounding this prediction.</p> 
<p>Reflecting on the recent high established in mid-July, the famous Twitter analyst pointed out that it was an equal high from previous levels and not truly a Higher High, in his opinion. Altcoin Sherpa compared the current market situation to 2019, describing it as a “chop fest,” where a significant upward movement was followed by a slow grind down. He anticipates a similar slow grind down for the remainder of 2023, with prospects of favorable times in December/January, as traditionally observed.</p> 
<p>In conclusion, Altcoin Sherpa’s analysis suggests a period of market consolidation and potential slow downward movement for Bitcoin, with a hint of optimism for the year-end. As a technical analysis expert, his insights provide valuable context to the ongoing market trends and potential future movements in the cryptocurrency landscape.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/top-analyst-predicts-slow-bleed-down-for-bitcoin-but-potential-upswing-by-year-end/">Top Analyst Predicts Slow Bleed Down for Bitcoin, But Potential Upswing by Year End</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Top Analyst Predicts Slow Bleed Down for Bitcoin, But Potential Upswing by Year End

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