‘Chart Is Still Broken’ – Crypto Analyst Predicts Sustained Downtrend for Altcoins Until This Takes Place

A seasoned crypto dealer is warning that the present bounce within the altcoin market will probably be short-lived.

Pseudonymous analyst The Move Horse tells his 266,500 followers on the social media platform X that he thinks crypto remains to be bearish and the most recent rally will most likely result in one other leg down.

Based on the analyst, the present bounce has not modified the bearish market construction of crypto.

“Bearish nonetheless on the excessive time-frame till confirmed in any other case.

I can’t see any motive why this isn’t a aid rally and markets received’t proceed to suck the following few months.

Chart remains to be damaged.”

Elaborating on his bearish stance on crypto, the dealer says on the moment messaging platform Telegram that the downtrend will probably persist except Bitcoin (BTC) flips a key worth space into help.

“I feel we’re on the half the place the correction might be, as I stated the opposite day, one that’s extra by time than by worth.

I will likely be how FARTCOIN, HYPE, PEPE, ENA and BERA proceed to commerce.

Being that it’s a Bitcoin dominance macro pattern, there is no such thing as a motive to imagine that modifications, and any success in alts goes to come back right down to if BTC can flip this $90,000-$93,000 stage into help.”

At time of writing, Bitcoin is buying and selling for $87,813.

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