Popular crypto strategist and trader Michaël van de Poppe is looking at two altcoins that he says are potentially flashing reversal signals.
In a new strategy session, Van de Poppe tells his 149,000 YouTube subscribers that Litecoin could be forming a bullish higher-low setup against Bitcoin (LTC/BTC) at 0.0033 BTC or $190.38.
“Even Litecoin might be a great one at this point as we are seeking for a higher low to be taking place. And when we go back in history and we create such a higher low, it is an argument to start running.
And back in history, we also know that in the first quarter of the year, Litecoin does really well.”
Van de Poppe highlights that Litecoin tends to ignite rallies at the start of the year as seen in Q1 of 2015 and the first quarters of 2017 to 2020.
Another coin on the trader’s list is Cosmos, a project dubbed as “the internet of blockchains.” According to Van de Poppe, Cosmos may be at the end of its corrective move against Bitcoin (ATOM/BTC) as it finds support at 0.00041 BTC ($23.65).
“It has seen a beautiful move. Currently correcting heavily. We might be correcting a little bit more but after such a heavy correction, as it has been doing here, the Bitcoin pair shows a period where we could be starting to have a reversal.
And as you know, December is often a beautiful period for altcoins.”
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/A G Baxter/Vladimir Sazonov