A closely followed crypto analyst is keeping an eye on the top two digital assets by market cap as well as a pair of Layer-1 scaling solution altcoins.
In the latest TechnicalRoundup newsletter, pseudonymous analyst Cred says that Bitcoin closed the week without a clear signal about where BTC’s price is headed.
“Bitcoin/dollar offered a relatively ambiguous close following the all-important retest of weekly structure at $55,800-$60,000. Price closed above the range low but below the range high. That is neutral at best, and not exactly what we wanted to see at this inflection point.
We’re essentially forced to write ‘up or down’ because the weekly close didn’t offer much signal.
One of the better outcomes to this consolidation would be Bitcoin/dollar chop into altcoin