Pentoshi Highlights Altcoin Potential as Bitcoin Remains Stable

Pentoshi’s Insights

The analyst suggested that the current market structure is developing positively, and there is potential for upward movement in altcoins. He indicated that a significant rise could occur if current resistance turns into support.

“This setup looks quite constructive to me. If support materializes, we can expect a serious upward move,” he stated.

Relationship Between Bitcoin and Altcoins

Pentoshi noted that despite Bitcoin’s pressure on the market, some altcoins could remain resilient. The increase in Bitcoin dominance may cause many altcoins to lose value against BTC. Therefore, he recommends focusing on altcoins exhibiting strong trends.

“I am optimistic about Bitcoin. However, this may lead to difficulties for many altcoins against BTC. Attention should only be given to those altcoins with a solid upward trend,” he added.

Overall Market Situation

Pentoshi referred to Bitcoin’s current level as a “waiting room,” reminding that BTC is near its all-time high. Currently, Bitcoin is at $67,319 and has shown sideways movements in recent days.

“It’s hard to call this a peak. Congratulations to those who are patient. Everyone is at the level they deserve,” he stated.

Pentoshi’s assessments suggest that market participants should consider the status of altcoins while monitoring Bitcoin’s performance. Focusing on altcoins that show strong performance may help mitigate risks.