Crypto analyst Xanrox has advised market participants against buying Bitcoin, 
warning that a crash is looming for the leading crypto. Instead, the analyst 
advised buying altcoins, which are likely to offer greater gains. Analyst 
Advises Against Buying Bitcoin With Crash Looming In a TradingView analysis, 
Xanrox advised against buying Bitcoin, citing the crypto’s bearish price 
action. Commenting on BTC’s daily chart, he noted that the LOG scale shows a 
bearish flag pattern, indicating bearish price action. He added that it will 
be a technical error to buy or go long at the resistance of the channel. 
Related Reading: 9 Red Candles Before The Bottom: Why Bitcoin Price Will 
Continue To Crash Xanax further revealed that Bitcoin’s price is currently 
within the channel, indicating a huge selling wall above the current price. 
The analyst admitted there is still a chance BTC could rise to between $83,000 
and $84,000. However, he advised opening a short position at this point rather 
than longing BTC. The analyst’s accompanying chart indicated that the recent 
Bitcoin rally was simply a bull trap, with BTC now at risk of dropping to 
around $60,000. BTC notably fell below $80,000 yesterday following the release 
of the U.S. PPI inflation data, which showed that inflation rose 6% year-over- 
year (YoY) in April due to the U.S.-Iran war. Meanwhile, Xanrox also noted 
that Bitcoin’s dominance is bearish, which is a strong sign of an altcoin 
season. He stated that the BTC price is currently looking to retest the main 
channel’s support trendline at around $60,000. Altcoins To Buy Xanrox listed 
ADA, TRX, LINK, DOGE, BNB, XLM, XRP, and ETH as altcoins to buy for those 
looking to trade with huge banks and institutions because they control the 
price of these coins. He reiterated that market participants should avoid 
Bitcoin as its dominance is falling and that it has already pumped from its 
February lows of around $60,000. Related Reading: Can An Altcoin Season Come 
Again? Why Bitcoin Price Can’t Fall Below $40,000 Meanwhile, the analyst 
stated that trading lower-cap coins will be better for those looking to make 
much more profit, as those coins have greater upside than the major altcoins, 
which he described as ‘bank’s coins.’ Some altcoins have recorded significant 
gains over the last month, with TON, SUI, and ONDO leading the way. TON is up 
almost 50% in the last month, rising to almost $3 as the Toncoin network’s 
fees dropped by 600%. The altcoin also recorded this surge as the Toncoin 
network now offers one of the most attractive yields among all layer-1 
networks. Meanwhile, SUI and ONDO are up over 26% and 57%, respectively, on 
the back of bullish fundamentals in their respective ecosystems. At the time 
of writing, the Bitcoin price is trading at around $79,600, down in the last 
24 hours, according to data from CoinMarketCap. Featured image from Pixabay, 
chart from Tradingview.com

Analyst Says Avoid Bitcoin At All Costs; Here’s What To Do Instead As 50% Crash Looms

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Analyst Says Avoid Bitcoin At All Costs; Here’s What To Do Instead As 50% Crash Looms

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