BTC, ETH, XRP & LINK in the analysis of top trader van de Poppe
Crypto analyst and trader Michaël van de Poppe recently shared his findings on the evolution of Bitcoin (BTC), Ethereum (ETH), XRP, Chainlink (LINK) and Swipe (SXP).
Known in the industry as Crypto Michaël, the analyst told his 82,000 Twitter followers that if the price can hold above $ 13,678, BTC is likely to break the $ 14,000 resistance in his opinion .
Interesting jumps here and back into [the] resistance zone. If we break that, we will hit highs above $ 14,000. Volatility is high and is likely to remain high with the upcoming [US] election.
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Ethereum course establishes possible bottom against BTC
As for Ethereum , Van de Poppe says the ETH / BTC pair is on the verge of bottoming out after hitting a major resistance level in September.
Rejected at the range resistance at 0.038, it is now trying to establish support at the range low between 0.024 and 0.026.
While ETH / BTC could bottom at 0.024 support, Van de Poppe doesn’t expect the pair to begin a new boom cycle immediately.
As you can see from the previous soil formation structures, it takes a while. It starts bottoming out, makes a slight upswing and then we start a compression and the next bull wave begins.
LINK and XRP are on the brink
The crypto analyst also looked at Chainlink, which he says is currently trading at a key level.
If it loses the $ 10 area, which seems pretty likely if Bitcoin will show weakness, which we don’t know yet, but if we hit a lower high here it’s pretty likely that it will, then I will primarily look at the $ 7 area for potential long positions.
Also XRP is van de Popp one the same predicament.
You don’t want the price to drop below $ 0.22- $ 0.23. If it holds here that’s fine, but if it loses $ 0.23-0.22 I’ll wait for it to move towards $ 0.19 as that is the previous strong support zone. If we hold there then we could get another rally towards $ 0.32 or maybe even $ 0.40 in the next cycle.