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The CEO of the Analysis Company Issued a Serious Warning: "Bitcoin May Be Setting Traps for Altcoins!"
The CEO of the crypto analysis company Alphractal, Joao Wedson, in his recent assessment, warned that Bitcoin and the overall market may face a sharp movement in the short term.
Wedson, in a statement made via social media, highlighted several technical signals and urged investors to be cautious against a possible downturn scenario.
In his statement, Wedson said, "After examining several charts today, the picture is still not entirely clear. However, considering the intense open long positions in the market, the likelihood of a significant drop in the coming hours is quite realistic."
The key points highlighted in Wedson's assessment are as follows:
Joao Wedson stated that he believes the market is not in its final phase, but such movements could indicate a process of establishing a new price floor. "This decline may not be final, but caution is necessary. Especially, we need to remain vigilant against potential traps that may arise," he concluded.