Altcoin Sherpa Updates His Outlook For BTC, DOGE And SUSHI
A popular crypto analyst, known as Altcoin Sherpa, is updating his predictions for Bitcoin (BTC), Dogecoin (DOGE), and SushiSwap, which has skyrocketed in the last couple of days.
Bitcoin (BTC)
Altcoin Sherpa, a crypto analyst, tells his 184,000 Twitter followers that he doesn’t think the king cryptocurrency is at a good level to invest in right now.
$BTC: Levels I'm eyeing if we break this current area. Things are looking interesting but I still don't think you should buy this current area. #Bitcoin#BTCpic.twitter.com/chROQQ9VSc
At the time of writing, the price of Bitcoin sits at $20,029.
Dogecoin (DOGE)
Dogecoin is next on the trader’s list. Altcoin Sherpa says that DOGE could be entering a double-top pattern, but that this would depend a lot on how BTC does.
$DOGE: I'm still in my short; it's pretty close to my initial entry. I have stops pretty much at B/E and I already took half off at the TP1 area. To be determined if this is a double top area or not, it's going to really depend on BTC IMO. At the worst, it's a hedge. #DOGECOINpic.twitter.com/KXSO7W94Zp
A double-top pattern is a bearish reversal pattern that happens when the price of an asset goes up twice to the same high point. At the time of writing, Dogecoin was worth $0.064, which was a gain of 1.43% for the day.
SushiSwap (SUSHI)
Altcoin Sherpa ends his analysis by saying that the native asset of decentralised finance (DeFi) exchange platform SushiSwap (SUSHI), which has gone up over 16% in the last 24 hours, is still worth shorting.
$SUSHI: Had a new chef announced, bullish impulse. We're seeing some interesting moves in the DeFi sector. I still think that this is a good short to be honest; it's entering a supply zone and had a big recent move. Would obviously flip bias if it smashes through here. #SUSHIpic.twitter.com/q4ZHZ5gZvx
