dailyhodl.com
A widely followed crypto strategist believes that Bitcoin (BTC) is gearing up for a massive rally next year.
Analyst Michaël van de Poppe tells his 642,700 Twitter followers that he expects Bitcoin to ignite big rallies toward his targets of $42,313 and $50,324 by June 2023 based on key Fibonacci levels.
“Relief rally targets for Q2 2023 on Bitcoin.”
At time of writing, Bitcoin is switching hands for $17,321, a 1.63% increase on the day.
Van de Poppe is keeping a close watch on Ethereum (ETH), which he says is likely setting up for bullish continuation after taking out resistance at $1,200.
“Ethereum didn’t hit target price and, if I were looking for longs, didn’t reach optimal entry zone. Still waiting for continuation, which seems likely after this breakout.”
At time of writing, Ethereum is swapping hands for $1,290, up 2.45% in the last 24 hours.
Next up is Cosmos ($ATOM), an ecosystem of blockchains designed to scale and communicate with each other. According to Van de Poppe, Cosmos also looks good for bullish continuation as long as it is trading above $10.
“This one looks a bit in the middle. Good resistance to support flip and reclaim of $9.40, but nothing strong further. Prefer to hold around $10 for continuation and then I’d be looking at $12.25 next.”
At time of writing, $ATOM is changing hands for $10.41, up 3.38% on the day.
The last coin on the trader’s radar is Ethereum Name Service ($ENS), a project that aims to allow users to create personalized domain names for their crypto address. According to Van de Poppe, $ENS looks good for a rally after converting resistance around $13 into support.
“Breakout above $13 and now a resistance to support flip. Most likely leading towards continuation and then I’d be targeting $15.40 and $17.”
At time of writing, $ENS is valued at $14.54, up 3% in the last 24 hours.