Bitcoin is compressing inside a falling wedge formed during a broader uptrend, according to analyst NoName, who said the pattern matters less than where it appears in the cycle. In his view, a confirmed break above the upper trendline would put the next focus area at $84,000 to $90,000. Another scenario would see BTC sweep liquidity lower first, into the $72,000 to $74,000 range, before starting the next leg up.
NoName said traders should avoid trying to predict direction too early and instead wait to see which side BTC chooses before building a plan around that move. He also argued that the altcoin market has not entered its real expansion phase yet, putting total altcoin market capitalization at only about $1.1 trillion for now.
Looking ahead, he said the next six months could bring surprises. If BTC breaks to a new all-time high again, market attention may start shifting toward Ether (ETH), with capital then rotating into mid- and small-cap altcoins and Meme tokens. In that setup, he said total crypto market capitalization could reach $10 trillion to $12 trillion.
On Sept. 19, BlockBeats reported that analyst NoName said Bitcoin is forming a falling wedge within a broader uptrend, with price action gradually compressing between two descending trendlines.
He said the key point is not the pattern alone, but where it is forming. If BTC breaks above the upper trendline and holds there, the next area to watch is $84,000 to $90,000. Another scenario would be a move lower first, sweeping liquidity around $72,000 to $74,000, followed by the next rally.
NoName said traders should not rush to guess the direction and should instead wait for BTC to choose a side before making a plan around that move.
On altcoins, he said total altcoin market capitalization is currently only about $1.1 trillion and that the real expansion phase has not started yet. He added that the next six months could be full of surprises. If BTC breaks above its all-time high again, market attention may gradually shift to ETH, with capital rotating from ETH into mid- and small-cap altcoins and Meme tokens. He said that is usually the stage when a euphoric market appears.
Under that scenario, total crypto market capitalization could be pushed to $10 trillion to $12 trillion.
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