Crypto Analyst Scott Melker Calls Bitcoin Trading a Thumbs Up, Predicts Two Altcoins Ready to Bounce

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Crypto strategist and trader Scott Melker calls Bitcoin trading a ‘thumbs up’ because he sees a bounce on the horizon for two altcoins.

Melker tells his 573,800 Twitter followers that he expects Bitcoin to continue moving towards its goal of $ 52,956.27.

“BTC trading can be a game of thumbs up. The fake news from Walmart almost made my stop about $ 30 miss.

Now the price is up 10%, and I’m 10 times more in debt.

Not bad.”

Source: Scott Melker / Twitter

Melker adds that he continues to be long-term bullish on Bitcoin based on its fundamentals.

“Graphics are a meme. We all love graphics. They are great for trading, but at the very end of the day Bitcoin will go up because [it’s a] deflationary asset in an inflationary world. There is no reason to be bearish in Bitcoin for the long term.

Looking at other crypto assets, an altcoin on Melker’s radar is the blockchain-based operating system Tron (TRX). The crypto trader expects Tron to pull back slightly before removing immediate resistance to $ 0.11 and climbing back to $ 0.18.

“What you want is to see some kind of flag here ($ 0.09) and then buy it in this area ($ 0.11) and even outside of these highs ($ 0.12.”

Next up is the supply chain management platform VeChain (VET), which the crypto strategist says must break its resistance immediately to trigger a surge above $ 0.27.

“I really want to be above $ 0.15 at this point… It’s such a key resistance… VET is such a huge project, real partnerships. It will do exceptionally well.

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Featured Image: Shutterstock / Tursunbaev Ruslan

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