A widely followed crypto analyst is diving into the crypto markets after a week of largely sideways trading action.
Crypto trader Michaël van de Poppe tells his 660,100 Twitter followers that Bitcoin (BTC) is on the edge of a move that will strengthen the crypto markets.
“Bitcoin is on the edge of a big move here.
Breaking through $30,300-30,500 and we’ll see strength all across the board.
Chainlink then above $8.
Bitcoin back to $31,000.”
Looking harder at BTC, Van de Poppe says the king crypto is due for another sweep.
“Not breaking the crucial area, seems like we’re going to have another sweep of the low for Bitcoin.”
BTC is worth $29,714 at time of writing, down 3% in the last week.
Moving on to the blockchain oracle Chainlink (LINK), the trader expects the Ethereum (ETH)-based altcoin to expand even more.
“There we go on Chainlink.”
LINK is trading for $8.09 at time of writing, up 18% in the last 24 hours.
Diving into the XRP-rival Stellar (XLM), the trader suggests the $0.14 price zone might be a good entry for long trades on the explosive altcoin.
“Missed the trade at $0.12 on XLM.
If I get the chance, I’ll be looking at longs at $0.14 for a play.”
XLM is trading for $0.163 at time of writing, up 15% in the last 24 hours.
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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 losses 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/Andy Chipus/prodigital art/Salamahin
