Crypto Analyst Warns Bitcoin (BTC) ‘Still Trending Down’, Looks at Litecoin, Fantom, and
A widely followed crypto analyst is breaking down Bitcoin (BTC), Litecoin (LTC), Fantom (FTM) and one little-known altcoin that combines artificial intelligence (AI) and blockchain technologies.
Crypto trader Michaël van de Poppe tells his 643,500 Twitter followers that BTC is “trending down” after two harsh rejections.
“Still trending down.
– Harsh rejection at $16,800.
– Harsh rejection at $16,600.
Looks to be we’re testing the block around $16,400 again for Bitcoin.
If that sweeps and reclaims, US needs to bounce up.
Otherwise -> $16,200.”
BTC is trading for $16,625 at time of writing.
Looking at Litecoin, Van de Poppe says the payments-focused crypto is approaching a price zone that would be ideal for potential long trades.
“Litecoin got there faster than I expected it to get there.
Long regions approaching.”
Litecoin is currently going for $66.90.
The trader also analyzes layer-1 blockchain Fantom, naming two important price levels for FTM.
“Let’s see whether trend can switch on FTM.
Crucial resistance to break; $0.2025.
Crucial support to hold; $0.1990.”
FTM is currently valued at $0.202.
Finally, the analyst turns his attention to Fetch.ai (FET), calling the machine-learning blockchain “a strong one” on Tuesday.
“Shared this one earlier here, did make that bearish retest, but didn’t go as deep as I wanted to get the fill.
Ran away, and most likely will continue running if markets remain stable.
FET is a strong one.”
Re-visiting FET, Van de Poppe says the AI-driven blockchain has finally “hit the level.”
“Done deal, hit the level and strong bounce up on FET.”
FET is trading for $0.096 at time of writing.
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