A widely followed crypto analyst believes that crypto king Bitcoin (BTC) is still doing well as he updates his outlook on Litecoin (LTC).
Cryptocurrency trader Michaël van de Poppe says his 557,200 Twitter followers that the most recent BTC correction is healthy in an overall upward trend.
“If you look at the higher timeframes for Bitcoin, things are still good.
Healthy correction in an uptrend, approaching many support levels.
Instead of waiting for $12,000, it’s important to look at what could be the support around here.”
Also, if BTC bounces towards the $26,600 level today, then Van de Poppe think BTC traders have already witnessed the local Bitcoin low.
“Bitcoin continues to swim around the lows. We saw a low of $26,100 last night, but there was no low of $25,800 yet.
Today is probably the make-or-break day for trend-based outlooks.
If we go back to $26,600, I think we have seen the bottom.
BTC is worth $26,245 at the time of writing, down 4.4% over the past seven days.
Moving to Peer-to-Peer Litecoin Crypto, Van de Poppe says markets hardly show interest in LTC despite its upcoming halving.
“Litecoin is entering an interesting area, through which I would like to see if $80-83 holds as support.
The halving is approaching and the markets have hardly shown interest.
It could accelerate if Bitcoin hits a low point.”
LTC is worth $84.72 at the time of writing, down 10% in the last seven days.
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