Bold Claim for Surprise Altcoin by CEO of Cryptocurrency Analysis Company: “I Can’t See Any Other Way, The Direction Is Up”

Joao Wedson, CEO of cryptocurrency company Alphractal and analyst, stated in his assessment that despite short-term profit realizations in the market, the long-term bullish belief continues.

According to Wedson, although prominent traders have begun to slightly reduce their short-term positions, strong confidence in the market remains.

Wedson highlighted data on the “Leading Trader Long/Short Ratio,” examining the trading direction of the 20% with the highest margin balances. This ratio has recently declined slightly from 2.1. This suggests that some high-level investors are taking profits or mitigating risk following Bitcoin’s recent surge.

However, the ratio is still hovering above 2.5 on the daily chart, suggesting that large-capital traders are mostly holding long positions.

The analyst noted that many “whales,” particularly in Ethereum and other altcoins, have increased their long positions, adding that some investors are closing their Bitcoin positions and moving towards altcoins. This shift is creating high market volatility and numerous “traps” throughout the day.

Wedson also placed special emphasis on Polkadot (DOT): “DOT is poised to exit its accumulation phase soon. Ignore any volatility and unwanted long liquidations ahead. I don’t see any other path for Polkadot; the direction is up,” he said.

*This is not investment advice.

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