As the Bitcoin price stands above $93,000, there’s uncertainty about its potential as a short-selling opportunity. Cryptocurrency investors have suffered billions in losses, treating every price increase as an opportunity to short. Buyer interest remains weak, and attempts to rally have ended in failure, raising questions about the future of Litecoin (LTC) and why Scott Melker believes it’s time for a change.
Bitcoin’s Time Has Arrived
At the start of 2026, the surge aimed to end an 80-day series of lower lows for investors overwhelmed by excessive selling. This rally didn’t last due to external non-crypto factors, with each attempt falling short. However, Scott Melker asserts that we are nearing the end of these uninteresting movements and that Bitcoin’s bull run is soon to begin.
“The Bitcoin chart appears ready for an upward move.
While many label this a bear flag, I see a rising triangle. Higher lows consolidate toward a flat top.
The $94,500 area is critical.”
DaanCrypto has welcomed this seemingly stagnant period as an opportunity for respite. Still, search data and interactions indicate that most crypto investors have all but given up, retreating to levels reminiscent of the worst days of bear markets. How this will recover remains to be seen.
“I am quite pleased with the sideways price action over the past two months. A bit of calm and rest was beneficial.
But I am ready to move again. I do not think it will last much longer. I see upcoming volatility.
When this range breaks, regardless of direction, it’s not something to overlook. Considering how long we’ve stayed here and the price compression…”
Litecoin (LTC) Analysis
Monero (XMR) saw a sharp rise this month following the collapse of the ZEC Coin team. For those focusing solely on charts, XMR and LTC appear similar. Analyst CryptoBullet highlighted this similarity, sharing a related chart. Should this prove correct, it could start a major rally for LTC.
“The LTC chart looks almost identical to the XMR chart.
Both peaked in the same week in 2017 and 2021. In 2021, a higher peak was reached, and in 2022 a higher macro low occurred.
LTC has exhibited the same relative strength since the 2022 Bear Market Bottom.
We all know LTC’s rise will come sooner or later.
We just don’t know the catalyst or the narrative yet.”
