Bitcoin Primed for New All-Time High if BTC Breaks Above ‘Final Resistance,’ Says Trader Michaël van de Poppe

Crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is heading for new all-time highs (ATHs) if it breaks through one key level.

The analyst tells his 723,200 followers on the social media platform X that if Bitcoin bounces 2.25% from its current value it could hit a new ATH by early September.

“It feels great to have the market breaking out. Bitcoin bouncing upwards, onto the final resistance at $62,000. If that breaks, then it’s close to getting a new ATH in September. Expecting a lot of positive inflow in the data on the ETF [August 22nd]…

The thing with Bitcoin is, if it breaks $62,000, we’re likely going to a new all-time high in less than two weeks.”

Bitcoin is trading for $60,636 at time of writing, down slightly in the last 24 hours.

Next up, the analyst says if Ethereum (ETH) flips a key resistance level into support it could signal and uptrend for the altcoin market.

“Ethereum looks excellent, but it needs to continue climbing upwards. Crucial level to break: $2,700. There is nothing between $2,700 and $3,100, likely triggering a big upward run on altcoins.”

The analyst also says he will remain bullish on ETH as long as it holds $2,500 as support.

“The only thing ETH needs to do is to hold above the crucial area of $2,500. If that happens and the momentum returns through the ETF, the next target is $3,150. Feels good to be back in up-only modus.”

Ethereum is trading for $2,619 at time of writing, down slightly on the day.

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.

Generated Image: DALLE3

The post Bitcoin Primed for New All-Time High if BTC Breaks Above ‘Final Resistance,’ Says Trader Michaël van de Poppe appeared first on The Daily Hodl.