A popular crypto analyst is predicting Bitcoin (BTC) will break through a major resistance and go on an explosive rally.
In a new YouTube strategy session, crypto trader Michaël van de Poppe tells his 164,000 subscribers that Bitcoin is on the verge of soaring beyond $30,000.
He says Bitcoin is likely to dip back into the $17,500 and $17,700 range after trading hands in the low $18,000s. From there, he says Bitcoin is likely to soar, breaking through a key resistance at $18,300 and continuing quickly upward.
“We get a smackdown towards $17,500 to $17,700. That is the range where you want to start buying and then we can see continuation. The moment we crack the crucial resistance, which is the area at $18,300, we are back into this range and most likely we start overshooting quite fast… so then I’m definitely looking at $21,000 continuation here. Potentially even higher.”
He says Bitcoin may climb toward $45,000 as market conditions are shaping up to look like they did in 2019 when the king crypto went on a bull rally.
“We are getting into a stage that we most likely are going to get continuation on the risk-on assets. We get the bear market relief rally, we get a stage like we have been seeing in 2019. And that’s why you can start building your portfolio and can start accumulating even more. So if we get such a rally, let’s say towards $35,000, $40,000, $45,000, I think it will be overshooting $30,000, that is actually going to give you an incredible opportunity.”
At time of writing, Bitcoin is changing hands at $17,809.
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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.
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