A widely followed crypto analyst says that Bitcoin may surge to a new all-time high (ATH) if BTC breaks through one key resistance level.
In a new thread, crypto trader Michaël van de Poppe tells his 792,500 followers on the social media platform X that Bitcoin will likely trade sideways a little longer before reclaiming $108,500 as support and then have a massive breakout to a new ATH.
“Slight consolidation before the next breakout, that’s what Bitcoin is telling us. It couldn’t break through this resistance in one-go and is therefore consolidating. That’s fine, I assume we’ll see a big breakout to an ATH when we clear $108,500.”
Source: Michaël van de Poppe/X
Bitcoin is trading for $106,706 at time of writing, flat on the day.
Next up, the analyst says that Ethereum (ETH) may be on the verge of an explosive move to the upside as it holds the level around $2,400 as support.
“We’re likely going to be testing the other side of the range in the upcoming weeks…
I’m expecting strong continuation from ETH to be happening in the coming days/weeks as we’re holding onto the range low.”
Source: Michaël van de Poppe/X
Looking at his chart, he suggests that ETH may soon hit the $2,800 level again in early July.
ETH is trading for $2,430 at time of writing, flat on the day.
Generated Image: Midjourney
