Trader With 960,000 Followers Says Bitcoin Isn’t the Best Buy Now, Sees Better Altcoin Opportunities
Summary
- Ansem said now is not the right time to buy Bitcoin (BTC) and that there are altcoin opportunities that could offer higher potential returns.
- He said BTC is retesting a key weekly resistance zone of $65,000 to $66,000, and that a close above that range could lead to a retest of $72,000.
- He also said a break below the $63,800 support level could send BTC down to $60,000, and that he would consider a sell position if a clear short-entry opportunity emerges during a short period of sideways trading before a downside break.
Forecast Trend Report by Period
Crypto trader Ansem, who has 960,000 followers, said the market currently offers more attractive opportunities in altcoins than in Bitcoin.
In a post on X on June 17, Ansem wrote that this is not the best time to buy Bitcoin and that some altcoins offer higher potential returns.
He said Bitcoin is at a key technical juncture.
Bitcoin is retesting a major weekly resistance zone between $65,000 and $66,000. A weekly or daily close above that range would put a retest of $72,000 in play, he wrote.
If Bitcoin falls below support at $63,800, it could slide further toward $60,000.
Ansem added that he would consider taking a short position if the market presents a clear entry opportunity during a period of short-term sideways trading before a downside break, including a phase that absorbs stop-loss selling.
Bitcoin is hovering near a key resistance level as the market searches for direction. In the near term, whether it breaks through major support or resistance zones will help determine the next trend.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.