A much-followed crypto analyst dives into the crypto markets after a week of largely sideways trading.
Crypto trader Michael van de Poppe tells are 660,100 Twitter followers that Bitcoin (BTC) is about to make a move that will strengthen the crypto markets.
“Bitcoin is on the verge of a big move here.
If we break $30,300-30,500 we will see strength across the board.
Chainlink then above $8.
Bitcoin back to $31,000.”
Better look at BTC, Van de Poppe say the king crypto is due for another sweep.
“Not breaking the crucial area, it looks like we will have another low for Bitcoin.”
BTC is worth $29,714 at the time of writing, down 3% over the past week.
Onward to the blockchain oracle Chainlink (LINK), the trader expected the Ethereum (ETH) based altcoin to expand even more.
“Here we go on Chainlink.”
LINK is trading at $8.09 at the time of writing, up 18% in the past 24 hours.
Diving into the XRP rival Stellar (XLM), the trader suggests the $0.14 price zone could be a good entry point for long trades on the explosive altcoin.
“Missed the trade for $0.12 on XLM.
When I get the chance, I look at $0.14 longs for a play.”
XLM is trading at $0.163 at the time of writing, up 15% in the past 24 hours.
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Featured image: Shutterstock/Andy Chipus/prodigital art/Salamahin