Ethereum

Bitcoin Primed for New All-Time High if BTC Breaks Above ‘Final Resistance,’ Says Trader Michaël van de Poppe

Published

1 year ago

August 23, 2024

Crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is on its method to new all-time highs (ATHs) if it breaks by one key stage.

The analyst tells its 723,200 followers on the social media platform ATH early September.

“It feels nice to see the market breaking. Bitcoin bounces larger in direction of the ultimate resistance at $62,000. If that breaks, we’re near getting a brand new ATH in September. Anticipate plenty of optimistic inflows into the info on the ETF [August 22nd]…

The issue with Bitcoin is that if it breaks $62,000, we’ll in all probability hit a brand new all-time excessive inside two weeks.”

Bitcoin is buying and selling at $60,636 on the time of writing, down barely previously 24 hours.

Then the analyst say If Ethereum (ETH) turns a key resistance stage into assist, it might sign an uptrend for the altcoin market.

“Ethereum appears nice, however it must maintain rising. Essential stage to interrupt: $2,700. There may be nothing between $2,700 and $3,100, which is prone to trigger an enormous upward run on altcoins.”

The analyst too say he’ll stay bullish on ETH so long as it has $2,500 as assist.

“All ETH must do is keep above the essential $2,500 space. If that occurs and momentum returns by the ETF, the subsequent goal is $3,150. It feels good to be again in up-only mode.”

Ethereum is buying and selling at $2,619 on the time of writing, down barely on the day.

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