It’s been just reported that a crypto analyst who bought Bitcoin at the bottom back in November updated his outlook on the path ahead for the king coin. He is also updating his prediction for Litecoin.
BTC and LTC new price predictions are out
The pseudonymous analyst, whose alter ego is DonAlt said recently that BTC is at a crossroads.
DonAlt said that BTC needs to remain above a well-established line of support and resistance in order to push higher.
If Bitcoin can maintain a price above $22,540, the trader says the path ahead for the most important coin out there is higher.
But if BTC closes below that line, he believes further downside is in store, with a drop to $21,100 likely.
“BTC – Assuming that greater than $22540 -> up. Less than $22540 -> $21100.”
Bitcoin is currently at $23,227.
DonAlt is also updating his views on Litecoin, which he bought near its bottom of about $55 in November.
He says LTC is exhibiting one of his favorite patterns – a slow, strong walk-up on the daily chart with almost no pullbacks.
“The most beautiful walk up I’ve seen in a long long time. The longer it walks, the greater the grand finale.”
Tone Vays issues Bitcoin alert
According to the latest reports in the crypto space, Tone Vays says Bitcoin (BTC) is now struggling to sustain its rally after seeing a significant increase in value over the past months.
In a new video, Vays said that BTC is facing heavy resistance as it approaches the $25,000 price level.
While he believes that BTC will eventually breach the supply area, for now. He believed that BTC is likely due for a breather.
“The weekly chart is exactly where we’re expecting it to be, slowing down and struggling to break $25,000. We are back under $24,000. I am expecting a bit of a pullback over the next few weeks. We could hit that $25,000 mark.”