Nicholas Merten from DataDash highlights a crucial juncture for Bitcoin. After eight months of sideways movement, Bitcoin is testing resistance at the $70,000-$74,000 range. A successful breakout could push Bitcoin towards $90,000, marking a significant gain in a relatively short period.
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On the other hand, Merten warns that altcoins are not keeping up. Despite some rallying since August, most altcoins are failing to break past key moving averages and face selling pressure.
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He advises caution, particularly with meme coins, which often lose value after brief hype cycles. Instead, Merten recommends waiting for clear signs of altcoin strength before diving in.
For now, the focus remains on Bitcoin. With strong ETF inflows supporting it, the next few weeks will be pivotal in determining whether Bitcoin breaks out or continues its consolidation.
