Crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is heading for brand new all-time highs (ATHs) if it breaks by way of one key stage.
The analyst tells his 723,200 followers on the social media platform X that if Bitcoin bounces 2.25% from its present worth it may hit a brand new ATH by early September.
“It feels nice to have the market breaking out. Bitcoin bouncing upwards, onto the ultimate resistance at $62,000. If that breaks, then it’s near getting a brand new ATH in September. Anticipating loads of optimistic influx within the information on the ETF [August 22nd]…
The factor with Bitcoin is, if it breaks $62,000, we’re seemingly going to a brand new all-time excessive in lower than two weeks.”
Bitcoin is buying and selling for $60,636 at time of writing, down barely within the final 24 hours.
Subsequent up, the analyst says if Ethereum (ETH) flips a key resistance stage into help it may sign and uptrend for the altcoin market.
“Ethereum appears wonderful, nevertheless it must proceed climbing upwards. Essential stage to interrupt: $2,700. There’s nothing between $2,700 and $3,100, seemingly triggering a giant upward run on altcoins.”
The analyst additionally says he’ll stay bullish on ETH so long as it holds $2,500 as help.
“The one factor ETH must do is to carry above the essential space of $2,500. If that occurs and the momentum returns by way of the ETF, the subsequent goal is $3,150. Feels good to be again in up-only modus.”
Ethereum is buying and selling for $2,619 at time of writing, down barely on the day.
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