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The post <a href="https://coinpedia.org/price-analysis/crypto-analyst-warns-beware-meme-coins-amidst-bitcoins-consolidation/">Crypto Analyst Warns: Beware Meme Coins Amidst Bitcoin’s Consolidation</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
On Crypto Banter’s channel, <a href="https://www.youtube.com/watch?v=DG7TKItoWno">analyst Sheldon has</a> issued a warning. He discussed Bitcoin’s recent sideways movement, saying it does not indicate a directional trend but rather a consolidation phase. Despite attempts to push for a lower low, <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> remains in a bull flag pattern, signaling potential for upward movement in the near term. 
While altcoins continue to attract attention, Sheldon issues a reality check for investors. He warns against excessive speculation in <a href="https://coinpedia.org/price-analysis/doge-shib-meme-coins-prep-for-the-next-100-surge/">meme coins</a>, cautioning that many have recently experienced significant losses.&nbsp; 
Looking ahead, Sheldon anticipates a potential move toward the top of the current range, projecting <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price </a>to reach $69,000 to $70,000 in the short term. He advises traders to capitalize on opportunities presented by market dips, stressing the importance of strategic decision-making amidst volatility. 
<h2 class="wp-block-heading" id="h-bitcoin-dominance-and-altcoin-opportunities">Bitcoin Dominance and Altcoin Opportunities</h2> 
Sheldon explains Bitcoin dominance as a key indicator for altcoin performance. He said that Bitcoin dominance saw another significant downturn, with a large red candle forming on the 12-hour chart. While the market experienced a slight pullback, dominance showed a marginal increase. 
However, as the market shows signs of recovery with green candles emerging, dominance is anticipated to decline again. This could signify a favorable environment for altcoins, with potential for significant gains. 
Also Read : <a href="https://coinpedia.org/price-analysis/pepe-price-eyes-a-breakout-rally-with-bitcoins-resurgence/">PEPE Price Eyes A Breakout Rally With Bitcoin’s Resurgence</a> 
Looking at how prices are changing, there’s a big red candle, covering up the green one before it. This could mean the direction of things might change, possibly going down. If this keeps up and there’s a bounce back up, it might be a good time for traders to get in, maybe making a lot of money, like 20% to 40% more. 
According to him, <a href="https://markets.coinpedia.org/ethereum/">Ethereum</a> is also performing well, and it is priced at $3,600. He concluded that it could go up by about 10% to 15%.

Crypto Analyst Warns: Beware Meme Coins Amidst Bitcoin’s Consolidation

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