Trader Says Bitcoin To See ‘Big Breakout’ to New All-Time High After Hitting One Target, Outlines Path Forward for Ethereum

A widely followed crypto analyst says that Bitcoin may surge to a new all-time high ($ATH) if BTC breaks through one key resistance level.

In a new thread, crypto trader Michaël van de Poppe tells his 792,500 followers on the social media platform X that Bitcoin will likely trade sideways a little longer before reclaiming $108,500 as support and then have a massive breakout to a new $ATH.

“Slight consolidation before the next breakout, that’s what Bitcoin is telling us. It couldn’t break through this resistance in one-go and is therefore consolidating. That’s fine, I assume we’ll see a big breakout to an $ATH when we clear $108,500.”

Source: Michaël van de Poppe/X

Bitcoin is trading for $106,706 at time of writing, flat on the day.

Next up, the analyst says that Ethereum ($ETH) may be on the verge of an explosive move to the upside as it holds the level around $2,400 as support.

“We’re likely going to be testing the other side of the range in the upcoming weeks…

I’m expecting strong continuation from $ETH to be happening in the coming days/weeks as we’re holding onto the range low.”

Source: Michaël van de Poppe/X

Looking at his chart, he suggests that $ETH may soon hit the $2,800 level again in early July.

$ETH is trading for $2,430 at time of writing, flat on the day.

Generated Image: Midjourney