A Cryptocurrency Analyst Leans Bullish on Bitcoin Amid Recent Correction

As the cryptocurrency market experiences a recent correction, a widely followed cryptocurrency analyst and trader known as Sherpa is leaning bullish on Bitcoin (BTC). With 246,700 followers on the social media platform X, Sherpa remains optimistic about Bitcoin’s potential despite a dip below the $106,000 support level.

Bitcoin’s Strong Bullish Trend

Sherpa believes that Bitcoin is still in a “strong bullish trend” and sees potential for a bounce back. Despite breaking below the $106,000 support level, Sherpa points to strong support around the $104,000 price level. According to the analyst, Bitcoin is primed to bounce back from this level and continue its upward trajectory.

Based on Sherpa’s analysis on the four-hour time frame, Bitcoin could see a slight dip to just above $103,000 before entering a consolidation phase. Sherpa advises traders to monitor this level closely as a good low could signal a strong opportunity for a rebound.

Popcat (POPCAT) in Dangerous Territory

Turning to Popcat (POPCAT), a memecoin built on the Solana (SOL) ecosystem, Sherpa warns that the altcoin is in “dangerous territory.” With a chart indicating a potential break of crucial support levels, POPCAT is at risk of a further decline after printing a bearish lower high setup.

POPCAT is currently trading at $0.385, down by around 30% over the past week. Sherpa advises caution when trading POPCAT as the coin faces potential downside pressure.

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