A Crypto Analyst Predicts Bitcoin Will Reach New All-Time Highs
A popular crypto analyst believes that Bitcoin’s recent breakout is just the beginning of a larger uptrend that will ultimately lead to new all-time highs for the cryptocurrency.
Michaël van de Poppe, a well-known crypto trader, shared his insights with his large following on the social media platform X. He predicts that Bitcoin will likely consolidate around the $90,000 mark before continuing its upward trajectory.
“With a solid upwards trend, once Bitcoin breaks past $87,000, we can expect to see it test the $92,000-$94,000 range. This is the current scenario we are witnessing. Following this, we may experience a short-term consolidation phase between $93,500-$95,250. The signs are looking positive, and it is highly probable that we will see Bitcoin reaching new all-time highs.”
As of now, Bitcoin is trading at $93,608, showing a slight increase for the day.
Turning his attention to the Ethereum/Bitcoin pair (ETH/BTC), van de Poppe notes a bullish divergence on the daily chart. A bullish divergence typically indicates that the price is likely to rise, as it occurs when the price hits lower lows while indicators like the Relative Strength Index (RSI) show higher lows.
“We are seeing a potential bullish divergence on ETH. On shorter timeframes, Ethereum is reclaiming its position against Bitcoin. Additionally, the gold market is showing signs of a short-term peak. As long as ETH/BTC remains above ~1,820 sats, we can anticipate a move towards 2,000 sats in the near future.”
Currently, ETH/BTC is trading at 0.01918 BTC ($1,793), showing a 1.75% increase in the last 24 hours.
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