A closely followed strategist says that Bitcoin (BTC) could be on the verge of a breakout rally that may propel the king crypto to a level last seen in April 2022.
Michaël van de Poppe tells his 652,700 Twitter followers that he sees Bitcoin surging to as high as $46,000 should BTC take out its resistance at $30,000.
According to the crypto strategist, a shift in the Federal Reserve’s hawkish stance could serve as a catalyst for Bitcoin to move higher.
“Bitcoin still acting into the higher timeframe resistance at $28,000-$30,000.
Powell’s policy of hiking interest rates most likely coming to an end -> ingredient for relief.
If Bitcoin breaks $28,000-$30,000, $40,000 and $46,000 are next + likely substantial breakouts of altcoins due to confidence.”
At time of writing, Bitcoin is worth $29,857, up over 4.5% in the last 24 hours.
Looking at XRP, Van de Poppe says the sixth-largest crypto asset can start its next leg up once it takes out resistance at $0.53.
“Showing strength and that’s usually a signal for altcoins to show strength as well.
Now, stuck in a range.
Primarily focused for entries at $0.455-$0.48.
If we break and flip $0.53, I think we’ll see the next impulse move.”
At time of writing, XRP is worth $0.515, up 1.7% in the past day.
Another altcoin on the trader’s radar is the video-sharing blockchain network Verasity (VRA). According to Van de Poppe, VRA could be gearing up for a massive explosion en route to printing gains of over 230%.
“Mentioned earlier, during the big breakout upwards, that a pullback is due and marked the level at $0.004. Didn’t get there, but we’ve seen a correction to $0.005 and some stabilization. Seems likely that we’re consolidating before next push up to $0.02.”
At time of writing, VRA is trading for $0.006, up over 7% in the last 24 hours.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
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 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.
Generated Image: Midjourney