A pseudonymous analyst on Tuesday said that Bitcoin BTC/USD appears to be losing momentum.
What Happened: ‘Smart Contracter’ told his 220,800 followers on Twitter that Bitcoin is likely heading towards a gradual, “choppy grind up” to $24,000, and ultimately a lower high. This suggests that BTC will experience some volatility in the short-term,
The analyst asked traders not to fall into the trap of longing for a big move with every hourly reversal candle. “Go touch some grass,” he said.
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momentum waning and distribution probably underway on #btc, expecting a slow choppy grind up to 24k and ultimately another lower high.
— Bluntz (@SmartContracter) February 28, 2023
go touch some grass, don't fall into the trap of longing every hourly reversal candle expecting a big move. pic.twitter.com/lNYVzEbSV6
In another analysis, Smart Contracter said AI token Fetch.AI FET/USD “looks done here.”
The analyst said FET was one of the strongest altcoins over the last three months which was over “10 times from the lows.” FET was trading at $0.46, up 6% in the last 24 hours.
.$FET looks done here, one of the strongest alts over the last 3 months which did over 10x from the lows pic.twitter.com/BHCdGj2iai
— Bluntz (@SmartContracter) February 28, 2023
Price Action: At the time of writing, BTC was trading at $23,848, up 2.48% in the last 24 hours, according to Benzinga Pro data.
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