Crypto Analyst Warns Bitcoin (BTC) ‘still in downtrend’, considers Litecoin, Fantom and One AI altcoin
A popular crypto analyst dissects Bitcoin (BTC), Litecoin (LTC), Fantom (FTM) and a 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 tough rejections.
“Still on the downtrend.
– Hard rejection at $16,800.
– Hard rejection at $16,600.
It looks like we’re retesting the block around $16,400 for Bitcoin.
If that sweeps and reclaims, the US will have to step up.
Otherwise -> $16,200.”
Source: CryptoMichNL/Twitter
BTC is trading at $16,625 at the 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 quicker than I expected.
Long regions are approaching.”
Litecoin is currently priced at $66.90.
The trader also analyzes the Fantom layer 1 blockchain and identifies two key price levels for FTM.
“Let’s see if Trend FTM can turn on.
Crucial breaking strength; $0.2025.
Keep Crucial Support; $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.
“I shared this earlier, did this bearish retest but didn’t go as deep as I wanted to get the fill.
Walked away and will most likely continue if markets remain stable.
FET is strong.”
Revisiting FET, Van de Poppe says the AI-powered blockchain has finally “reached the level.”
“Deal closed, level up and strong jump up at FET.”
FET is trading at $0.096 at the time of writing.
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