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Crypto analyst Jackis has expressed concerns about the future of Kaspa (KAS) and Bitcoin (BTC), highlighting bearish trends in both assets. In a recent tweet, Jackis pointed out Kaspa’s underperformance in comparison to Bitcoin, emphasizing key technical patterns that suggest a potential price drop for both cryptocurrencies.
The analysis shared by Jackis indicates that while Bitcoin is expected to see a decline, Kaspa may face a more significant downturn.
Kaspa’s Downward Trend and Bearish Outlook
According to Jackis’ chart, Kaspa has been forming lower lows (LL) and lower highs (LH) since October 2023. This pattern, which appears as a descending channel, suggests that Kaspa has been on a consistent downward trajectory.
Jackis explained that the recent price increase in August, which he termed as a “complacency shoulder,” was likely a temporary spike rather than a sign of a sustained bullish reversal.
He cautioned that this upward movement could be part of a larger price manipulation aimed at attracting buyers before another drop. The chart shared by Jackis further illustrates KAS’s bearish outlook, with a downward arrow indicating that the token’s trend is unlikely to reverse in the near future.
With liquidity taken above the recent high, Jackis believes Kaspa is poised for another significant decline.
Bitcoin’s Relative Performance
While Bitcoin is also experiencing a bearish trend, Jackis noted that it has outperformed Kaspa. Bitcoin’s price has been forming higher lows (HL) and higher highs (HH), in contrast to Kaspa’s lower lows and highs.
This suggests that, despite the downward trend, Bitcoin has shown more resilience in its price movement. Jackis predicts that Bitcoin will also face a downturn, though the decline is expected to be less severe than Kaspa’s.
The chart shared by Jackis indicates that Bitcoin could be forming a descending broadening wedge, a pattern that often
Source: captainaltcoin.com