Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
October 5, 2023

Crypto Analyst Says Bitcoin (BTC) Ready To Target New Highs, Warns of Chainlink’s (LINK) ‘Final Correction’

By Daily Hodl Staff

A widely followed crypto trader says Bitcoin (BTC) is on the verge of reaching new heights while plotting out Chainlink’s (LINK) final corrective moves.

Crypto analyst Michaël van de Poppe tells his 668,000 followers on the social media platform X that BTC is ready to target new highs.

ADVERTISEMENT

“Bitcoin is very much ready to reclaim $29,000-30,000 and target new highs.”

BTC is worth $27,984 at time of writing, up 2.1% in the last 24 hours.

A few days ago, Van de Poppe said that BTC was consolidating, which, according to the trader, should provide certain altcoins with momentum.

“Altcoins had a substantial correction overnight, while Bitcoin is consolidating. 

ADVERTISEMENT

The trendy coins from last weeks have seen a massive correction too. 

As long as Bitcoin consolidates, I’ll expect that those assets continue to show momentum. 

It takes a few days.”

At the same time, Van de Poppe pointed out that LINK would likely face one last correction before a breakout that could last into next year.

“The final correction for Chainlink before we’ll break out of this range. 

ADVERTISEMENT

The markets are still heating up for a big breakout, and if cycles do take place, 2024 is going to be a big year for LINK.

Expecting to see some retests around $7 to be bought, before $12-15.”

Source: Michaël van de Poppe/X

Taking another look at LINK yesterday, the trader said it was indeed undergoing a correction as predicted.

“Pretty substantial reaction here from LINK.

Didn’t reach my level yet, but it seems that this is the correction before a breakout upwards is the most likely occurrence.”

Source: Michaël van de Poppe/X

LINK is worth $7.63 at time of writing, up 1.7% in the last 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
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/ Tithi Luadthong