Crypto Strategist Who Accurately Predicted 2023 Bitcoin Bottom Update Forecast on BTC, Ethereum and Litecoin
A crypto analyst who re-entered the market in November charts the way forward for Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
Starting with Bitcoin, pseudonymous trader DonAlt tells his 47,000 YouTube subscribers that the upside target for the flagship cryptocurrency is $34,000 while the downside target is $19,000.
“You have a lot of upside. I think the upside on the monthly is basically if you don’t want to be too greedy $34,000.
And the downside is basically a proximity under $20,000, which could be anywhere from $18,000 to $17,000, something like that.”
According to DonAlt, if Bitcoin closes several times below $20,700, it will invalidate his bullish thesis.
“The danger zone, this is where if you get someone too many closes in this area, I think it starts to get dangerous as well. It’s between $20,700 and $19,300.
Everything in this area makes me a little nervous simply because it invalidates or like it kind of takes away from my vision.”
Bitcoin is trading at $23,765 at the time of writing.
As for Ethereum, the pseudonymous trader says the second-largest digital asset by market capitalization is set to surpass the number one crypto on the Ethereum/Bitcoin (ETH/BTC) chart.
According to DonAlt, ETH/BTC reaching highs of around 0.12 BTC last hit in 2018 could mark the end of the current or next crypto rally.
“Overall I think ETH/BTC is going to go higher, it’s just a matter of when…
ETH/BTC is heading towards at least these highs – ie 0.12 BTC. It is very close to turning around. And I think that is quite likely. I think it’s going to end this rally or the next one depending on when it happens.”
Ethereum is trading for 0.07035241 BTC, or $1.656, at the time of writing.
As for Litecoin, DonAlt says his preferred trajectory for LTC is for it to retrace after gaining at least 30% and then rise higher before the halving.
“If it [Litecoin] breaking the $100 barrier, just go for $130, $140 that would be pretty nice. Like push up here [$130-$140], collapse back to $100 and then go for the real run. I would be down for that.
It has the narrative as well because we are heading into the Litecoin halving.”
Litecoin is trading at $99.55 at the time of writing.
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