Crypto Strategist Says Breakout Rally ‘Very Likely’ To Occur for Bitcoin, Predicts Monster Move for Ethereum
A widely followed crypto analyst says that Bitcoin (BTC) is setting the stage for a major breakout.
Crypto analyst Michaël van de Poppe tells his 674,900 followers on the social media platform X that Bitcoin remains in a bullish uptrend, printing higher low prices.
“Another higher low is established on Bitcoin. The trend remains to be upward, while the resistance [around $38,100] has been tested several times now. A breakout is very likely to occur.”
The trader says Bitcoin may experience temporary dips in the near-term, but predicts an overall uptrend ahead of a possible decision by the U.S. Securities and Exchange Commission (SEC) to approve a spot market Bitcoin exchange-traded fund (ETF).
“Dips are still relatively short-lived as the markets are heating up for more momentum towards the spot Bitcoin ETF approval. And that’s just five-six weeks apart.”
Bitcoin is trading for $37,688 at time of writing, down 0.1% in the last 24 hours.
Next up, the trader predicts that Ethereum (ETH) could soon have a massive breakout of an 18-month trading range.
“Personally, I’m expecting that ETH will continue to rally. If there’s a dip towards the $1,800-$1,900 region, that’s an area to enter as Ethereum wants to break out of an 18-month range. After that, targets at $3,100-$3,600.”
Ethereum is trading for $2,021 at time of writing, down 1.1% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Crypto Strategist Says Breakout Rally ‘Very Likely’ To Occur for Bitcoin, Predicts Monster Move for Ethereum appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
