A widely followed crypto analyst breaks down Bitcoin (BTC) and altcoins after a week of sideways price action for crypto.
Crypto trader Michael van de Poppe tells are 659,500 Twitter followers that BTC is now entering a “potential long trigger scenario”.
“Well, we’ve got the sweep for Bitcoin.”
BTC is worth $30,038 at the time of writing, down 1.6% in the last 24 hours and down 0.6% in the past seven days.
Looking at the Ethereum (ETH) competitor and smart contract platform Fantom (FTM), Van de Poppe say FTM is ready to go up.
“This one looks ready for continuation upwards.
Lots of stops on shorts ready to be taken, holding above $0.30 could lead to a continuation to $0.40.
FTM is trading at $0.293 at the time of writing, down 2.5% in the last 24 hours.
Van de Poppe too takes a look at Litecoin (LTC), which he says is poised for a 2x gain similar to Bitcoin Cash (BCH)’s recent gains as LTC approaches its long-awaited halving.
“Messy chart, but Litecoin seems poised for the pre-halving rally and follows BCH in a potential 2x.
I’ve mentioned it a few times, but it looks really good.
LTC is worth $96.94 at the time of writing, up 14% in the last 24 hours.
While altcoins are generally down right now, Van de Poppe assures his followers that the next 3-5 years will be huge for crypto.
“The point is people literally never believe in assets when it is as low as Altcoins are now.
If you look at the entire Crypto landscape, the next 3-5 years will be huge.
Acceleration of adoption.”
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Featured image: Shutterstock/Ormalternative