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Cryptanalyst and trader Michaël van de Poppe says he believes that Bitcoin’s big breakout is not over yet.
The analyst He says his eye is on the weekly close for BTC as the top cryptocurrency targets $ 16,000.
“The last few hours are showing an acceleration as we approach the next weekly level around $ 16,000.
US stocks are doing their job too, having risen 7% (Nasdaq) in the previous 36 hours. Let’s see where BTC will end up, before or after $ 16K. “
The analyst says he believes Bitcoin will break through its all-time high early next year, and is looking for healthy corrections along the way.
“It is intriguing that the accounts are screaming that BTC has an easy journey from here towards $ 20K. I don’t see that happening all at once. Lateral corrective moves would drive an even stronger move. Most likely there will be a new ATH Q1 2021 “.
In a series of strategy sessions, Van de Poppe says that ETH’s next resistance line is $ 450. ETH must hold above $ 378 to support a sustainable rally, he says, with the “critical level” set between $ 368 and $ 378.
As for XRP, the analyst says that traders should wait for the crypto asset to build sustainable momentum and break above the 30 cent mark before buying.
“If we recovered 1900 satellites, he would definitely be interested. If we get a bounce and jump back down and regain this level here [at 1660 satoshis] we are establishing that that will also mean that we have a bullish divergence and that will trigger a long entry. “
Disclaimer: Opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
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