Cryptocurrency analyst and trader Michaël van de Poppe says that one top-15 digital asset could soon soar against Bitcoin (BTC).
Van de Poppe tells his 685,300 followers on the social media platform X that decentralized oracle provider Chainlink (LINK) could rally more than 167% against Bitcoin (LINK/BTC).
“Chainlink has held a crucial level of support on the BTC pair and is likely going to continue from here. Crucial breakout above 0.00045 BTC, if that breaks, a run to 0.0008-0.001 BTC seems next.”
Looking at his chart, the trader suggests that LINK/BTC is on the verge of a trend reversal and about to break through a key resistance level at 0.0004480 BTC ($18.63).
LINK/BTC is trading for 0.0003741 BTC ($15.59) at time of writing.
The trader also weighs in on Bitcoin as the crypto king dipped to the low $40,000s this week. He believes Bitcoin is in the early stages of a bull market cycle and wouldn’t be surprised to see a correction to the $36,000 level.
“Bitcoin isn’t into a bear market; it’s at the start of a new bull cycle. However, as it’s at the start of a new bull cycle, discussions will be heavy between the two groups…
Perhaps we’re there already for Bitcoin, but it seems likely that we’ll test lower before we can have a reversal back up. My personal interest is between $36,000-$40,000 to be accumulating more into Bitcoin. The range remains defined.”
Bitcoin is trading for $41,636, up slightly in the last 24 hours.
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