Closely-followed crypto strategist and trader Michaël van de Poppe is unveiling two relatively unknown altcoins that offer massive entry opportunities.
In a new tweet, Van de Poppe tells his 85,000 followers that he’s keeping a close watch on Ocean Protocol (OCEAN), which is a platform that allows companies to sell their data and buy data in a safe and secure marketplace. According to the analyst, traders can wait for OCEAN to decline over 37% against Bitcoin (BTC) before making an entry.
“Did discuss that 3,900 (satoshis) level is a very important level to break. Failed. Lower highs, lower lows. Looking at support at 2,500 and 1,900 (satoshis) for massive entries. Everything retraces fully.”
Van de Poppe is also looking at Tomochain (TOMO), a project that seeks to improve the scalability issues hounding many blockchains. The crypto strategist says TOMO is offering a great opportunity against BTC as it trades close to historical support of 0.000034.
As for the TOMO/USDT (Tether) pair, Van de Poppe expects it to carve a bottom and build a new base en route to a new all-time high before June 2021.
“Most likely we’re going to find the resistance around $0.80 so we’re getting close. Most likely, we’re going to get something like this: either we’re going to $0.48 again or $0.59. These two levels I’ll be looking for accumulation for a swing trade…
Target zones if we get the new rally up and the new impulse wave, quite clear about a buck ($1.00), about $1.60, and you can use the Fibonacci 1618 extension tool through which you can determine targets at $2.50.”
While the trader is waiting for corrections in OCEAN and TOMO, he is bullish on the overall altcoin market.
The next altseason is going to be absolutely ridiculous.
— Michaël van de Poppe (@CryptoMichNL) November 20, 2020
As for Bitcoin, Van de Poppe is expecting a deep correction as the largest cryptocurrency is still in the midst of a historic rally.
“I think we’re going to drop first to $16,000. Have some range-bound movements through which altcoins will do relatively well. Then a further, final drop towards $14,000 and from there we’re going to continue the grind.”
Looking at Ethereum (ETH), Van de Poppe maps out the leading smart contract’s platform ascent in the coming months. He predicts ETH will have a final leg down to around $400 before skyrocketing to $1,000 in October 2021.
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.
Featured Image: Shutterstock/Art Furnace