Crypto Strategist Predicts Altcoin Bounce as OTHERS Chart Flashes Bullish Signals

Bitcoin and altcoins are poised for a bounce higher this week, according to a crypto strategist known for accurately calling the 2021 digital asset cycle top. The analyst, pseudonymously known as Pentoshi, believes that the OTHERS weekly chart, which tracks the total market cap of crypto excluding the 10 largest digital assets and stablecoins, is flashing bullish signals.

Pentoshi, who has 855,900 followers on the social media platform X, tweeted that the last weekly candle indicates a potential rally for cryptocurrencies. He also believes that the OTHERS chart may soon have a series of rallies and flip the $281 billion resistance level on the weekly chart into support.

At the time of writing, the OTHERS is trading at $271.46 billion. Looking at Bitcoin, Pentoshi notes that BTC looks strong despite an onslaught of bearish news. Bitcoin is currently trading for $96,228.

Earlier this month, Pentoshi predicted that the crypto market cap may hit a valuation of $4.42 trillion as soon as the first quarter of this year. At the time of writing, the total market cap of crypto stands at $3.134 trillion.