Popular trader and crypto strategist Michaël van de Poppe is naming three crypto assets that he believes will follow Polkadot’s recent surge and overtake XRP.
In a new video, the trader tells his 22,000 subscribers that he expects Bitcoin to continue consolidating before initiating the next leg up.
“What is likely to happen at this point for Bitcoin is quite tricky. We are still acting on support. Most likely, given this falling wedge construction, I would not be surprised if we’re going to see a run towards $39,000 to $40,000 again. However, it’s tricky as we are in mid range. If we can’t pass through to $36,000 to $36,500, we might be getting this further consolidation downwards ($30,000). But the primary point of the Bitcoin chart right now is that it’s eager for consolidation.”
With Bitcoin trading in a range, Van de Poppe is looking at altcoins which he says are showing signs of strength.
At the top of the trader’s list is Chainlink (LINK). He outlines key levels where Chainlink might drop before resuming its ascent to a new all-time high.
“Lower timeframe levels, level around $18 is interesting for an entry and then you can see we’ve got one [at $16] and one [at $14], which is confluent with the daily timeframe.”
In addition to Chainlink, Van de Poppe is keeping tabs on Cosmos (ATOM) which he says may be due for a pullback after pulling off a 2x move.
“If we get into this region ($6.60) to make another higher low, that is quite fine before the bull market continues.”
Van de Poppe is looking at Curve (CRV) as well. He says the token is likely to retrace before it accelerates again.
“You should be looking at any of these confluence levels ($1.20 and $0.9) for interest points… These levels are where you’re going to look at as you can see that every move is correcting as well. [CRV is] currently finding resistance. Most likely [it] is going to consolidate before expansion is going to happen.”
With coins like ATOM and CRV rising and more than doubling their value in just a few days, Van de Poppe says the pump in the altcoin markets is far from over.
“You think you’re experiencing altseason? This is just a warm-up. 2021 will be a crazy year for crypto.”
As for XRP, Van de Poppe says that it is only a matter of time before smart contract platform Cardano (ADA), decentralized oracle network Chainlink (LINK), and global payment network Litecoin (LTC) dislodge Ripple’s native asset from the fifth spot of the largest coins by market cap.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
— Michaël van de Poppe (@CryptoMichNL) January 16, 2021
Follow us on Twitter, Facebook and Telegram
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/sdecoret