Trader Notes: Altcoin Sherpa said the current environment favors either short-term scalp trades or staying on the sidelines until Bitcoin delivers a strong, sustained breakout above $94,000.
Until that happens, choppy price action is expected, making capital preservation the priority.
Crypto trader Jelle noted that weeks after the sell-off, Bitcoin appears to have found a bottom following a dip to RSI 37.
While the precise catalyst is unclear, he highlighted that this RSI level has historically acted as a meaningful inflection zone for BTC.
Michael van de Poppe described the current move as a key bounce, pointing out that Bitcoin is holding its crucial 21-day moving average and beginning to grind higher.
He said the price action shows clear buying interest at these levels.
If this strength persists through the weekend, the probability of a push toward $94,000 rises significantly, which could reignite momentum across the broader altcoin market.
Join thousands of traders who make more informed decisions with our premium features.
Real-time quotes, advanced visualizations, backtesting, and much more.
