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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