Crypto Analyst Michal van de Poppe Forecasts a Tricky Weekend for BTC, Charts Ethereum and Litecoin

A widely followed crypto analyst is warning Bitcoin (BTC) traders that the weekend ahead could be a tricky one.

Popular crypto trader Michal van de Poppetellshis 644,000 Twitter followers to avoid overleveraging BTC heading into the first weekend of the new year.

“We should be good if Bitcoin remains above $16,600.

Tricky weekend coming up with Grayscale, tomorrow unemployment data and such.

Wouldn’t go crazy on leverage.”

Van de Poppe then goes into further detail with a chart,suggestingBTC needs to hold the $16,600 level to avoid a crash.

“Bitcoin is again at support, but not fancying longs too much at this point.

It needs to hold above $16,600 to avoid a puke to low $16,000 and to sustain upward momentum.

In that regard, with the data today, I’d be looking at bit lower for longs towards $17,000.”

Source: Michal van de Poppe/Twitter

BTC is trading for $16,828 at time of writing.

The trader thenturns his attention to the leading smart contract platform Ethereum (ETH), trading for $1,265 at time of writing.

“Theory still stands on Ethereum, going as planned so far.”

Source: Michal van de Poppe/Twitter

Finally, Van de Poppe breaks down the payments-focused blockchain Litecoin (LTC). Yesterday, the analystsuggestedLTC was on its way to $72. Today, heconfirmshis hypothesis.

“Thank you very much, we’re getting there for Litecoin.

Probably later today time for longs.”

Source: Michal van de Poppe/Twitter

Litecoin is currently changing hands for $75.

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This article was originally reported on The Daily Hodl.