A popular crypto analyst is giving his latest outlook on leading digital assets Bitcoin (BTC) and Ethereum (ETH), one mid-cap altcoin and the crypto markets overall.
Crypto strategist Michaël van de Poppe tells his 626,000 Twitter followers that BTC needs to find support above $19,500 to spark a rally.
[adinserter block="1"]He also notes the importance of European Central Bank (ECB) President Christine Lagarde and Fed Chair Jerome Powell’s upcoming speeches on monetary policy.
“Bitcoin is going so far so good, but needs continuation above $19,500. Then, party time is on. Today can be important with Lagarde and Powell speaking.”
Bitcoin is changing hands for $19,255 at time of writing.
The analyst then says that top smart contract platform Ethereum is “mooning” after finding its bottom on September 7th, adding that altcoins are following in its footsteps.
“Bottom.
Ethereum mooning.
Other altcoins following.
Dollar dropping.
Long crypto.”
ETH was in the $1,500 range around the time Van de Poppe made his tweet. It quickly jumped to $1,643 before stabilizing around $1,623 at time of writing.
Van de Poppe then sets his sights on Ethereum challenger EOS (EOS). He says that the smart contract platform is on its way to reaching the $2 price level after a strong bounce.
“Very strong bounce on EOS on the desired level. Looks solid for continuation to $2.”
EOS is trading for $1.62 at time of writing.
The trader concludes his analysis by looking at the total market cap of the crypto industry, saying that a “beautiful” retest of its 200-week moving average (MA) is on the horizon.
“If you’d ask me, then a beautiful retest is being made on the total market capitalization on the 200-Week MA. That implies a significant buying opportunity for you on the crypto markets as [US dollar index] is getting towards a climax too. Going as planned, so far.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
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 losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Space Wind
