Crypto Trader Michaël van de Poppe Says Bitcoin on Cusp of Breakout, Updates Outlook on Ethereum and Bittensor
Analyst and trader Michaël van de Poppe is offering his outlook on Bitcoin (BTC) and two other crypto assets amid a market recovery.
Van de Poppe tells his 791,900 followers on the social media platform X that Bitcoin is in the first phase of consolidation after breaking out from the $106,500 price level.
According to the widely followed analyst, the first consolidation phase is likely to last a couple of days.
“Then, we’re going to have the next breakout above the all-time high.
Ideal zone to buy? I would estimate around $107,000 – $108,000.
Buy the dip season.”
Bitcoin is trading at $109,325 at time of writing.
Next up is Ethereum (ETH). According to Van de Poppe, Ethereum is building up for a “big breakout” after a consolidation phase that has lasted for over a month. The widely followed analyst says Ethereum could rise by up to around 26% from the current level.
“I assume we’ll start to see a leg to $3,400 – $3,500 if it breaks the resistance at $2,800.
The area to hold: around $2,575.”
Ethereum is trading at $2,770 at time of writing.
Next up is the decentralized artificial intelligence (AI) platform Bittensor (TAO). According to Van de Poppe, TAO could go up by around 92% from the current price level as “confidence comes back in” to the market.
“I assume we will break above $475 and we’re getting to $700 – $800 in the next run.”
Bittensor is trading at around $416 at time of writing.
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