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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The post Crypto Trader Michaël van de Poppe Says Bitcoin on Cusp of Breakout, Updates Outlook on Ethereum and Bittensor appeared first on The Daily Hodl.
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