Top Crypto Analyst Van De Poppe Projects Breakout For Bitcoin

According to a leading crypto strategist Michaël van de Poppe Bitcoin (BTC) could see breakout happening relatively soon.

Bitcoin (BTC)

The expert shared with shared with his 605.2K followers on Twitter that Bitcoin could be close to a rebound. According to him there are two fundamental analysis (FA) factors that could trigger it.

“Breakout is coming relatively soon for Bitcoin and if we combine that with FA, then we can clearly assume that;

– Jobless claims

– PCE [personal consumption expenditure] inflation 

Are going to be the trigger. If inflation slows down or jobless claims are fine, the FED might be slowing down the policy.”

Breakout is coming relatively soon for #Bitcoin and if we combine that with FA, then we can clearly assume that;
– Jobless claims
– PCE inflation

Are going to be the trigger. If inflation slows down or jobless claims are fine, the FED might be slowing down the policy. pic.twitter.com/WCEgQhMvXm

— Michaël van de Poppe (@CryptoMichNL) May 26, 2022

Van de Poppe also revealed his projected path for the leading crypto asset will in the coming months.

“The plan on Bitcoin.”

The plan on #Bitcoin. pic.twitter.com/JyTEZlKmwH

— Michaël van de Poppe (@CryptoMichNL) May 25, 2022

At the time of writing, BTC trades at $29,000 down 2.5% on the daily.

Fantom (FTM)

The analyst also looked into Fantom (FTM), saying that the altcoin would be now in a good place for long positions, as it is moving nicely along his previously laid out trajectory.

“This one played out nicely. 

Not a bad place for longs now.”

? $FTM.

This one played out nicely.

Not a bad place for longs now. https://t.co/RJAySPeUZF pic.twitter.com/3SjCK4iq5K

— Michaël van de Poppe (@CryptoMichNL) May 26, 2022

At the time of writing, FTM trades at $0.3652, down 10% on the daily chart.

Ethereum (ETH)

Regarding Ethereum, the analyst notes that it would need to break through $1,940 in order to move upwards.

“Well, Ethereum got towards the range low.

The question will be whether we can bounce from here and break the $1,940 level. If that happens, I’m assuming we’ll continue $2,050.

If it doesn’t, then the markets are looking at <$1,800 probably.”

Well, #Ethereum got towards the range low.

The question will be whether we can bounce from here and break the $1,940 level. If that happens, I'm assuming we'll continue $2,050.

If it doesn't, then the markets are looking at <$1,800 probably. pic.twitter.com/8sIWe601gF

— Michaël van de Poppe (@CryptoMichNL) May 26, 2022

At the time of writing, ETH trades at $1,760, down 10% on the daily chart.

Altcoins

Looking into the altcoin market overall, van de Poppe project further heavy downside.

“Overall weakness in the markets, as altcoins are dropping down heavily.

That will probably continue the coming period, unless the overall sentiment switches.

In that case, focusing on USD pairs until $BTC dominance tops out around 50-52%.”

Overall weakness in the markets, as #altcoins are dropping down heavily.

That will probably continue the coming period, unless the overall sentiment switches.

In that case, focusing on $USD pairs until $BTC dominance tops out around 50-52%. pic.twitter.com/ONPICTL4gw

— Michaël van de Poppe (@CryptoMichNL) May 26, 2022