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A savvy trader who sold Bitcoin (BTC) at its peak has returned to the crypto markets, accumulating BTC, Ethereum (ETH), and other altcoins.
In a new strategy session, pseudonymous crypto analyst DonAlt tells his 45,100 YouTube subscribers that he is now looking to see if BTC can hold an important support level.
The trader says Wednesday’s massive daily candle is the key, and he doesn’t want to see BTC fall all the way back below the $17,065 area.
If he can hold the line, DonAlt says he will be hyper bullish on the leading digital asset.
We kind of have to hope that this daily green candle holds. You don’t want to trade anywhere below this is starting to look fishy but as long as it is [hold]I’m going to be hyper-bullish.
It makes sense to me, I have the [proper] entry to risk it, and I think that’s a good risk-reward setup because the reward is massive and that risk is pretty minimal.
The analyst and trader, who first bought BTC in the low $16,000 range, also told his 447,200 Twitter followers that he is currently holding on to ETH, Litecoin (LTC) as well as Bitcoin.
When asked if he was deterred by the recent drop in LTC prices, DonAlt replied that he still plans to maintain the decentralized peer-to-peer network.
Yes, hold BTC > LTC > ETH.
I don’t care as long as the USD [US Dollar] get on alts, I have enough BTC to make me happy even if it’s running solo.
DonAlt then says that he also bought XRP, the digital asset that is an integral part of the Ripple Labs payment platform.
Finish shopping today. Bought a bunch of BTC for the long haul. I bought a bunch of LTC as an exchange. Bought some XRP for the meme.
I
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