- Crypto trader Michaël van de Poppe believes that Bitcoin (BTC) is on the edge of a big move and Chainlink (LINK) will see strength.
- Van de Poppe also suggests that Stellar (XLM) might be a good entry for long trades at $0.14.
- The analyst expects Bitcoin to sweep the low if it does not break through $30,300-30,500.
Crypto Analyst’s Breakdown
A widely followed crypto analyst is diving into the crypto markets after a week of largely sideways trading action. Crypto trader Michaël van de Poppe tells his 660,100 Twitter followers that Bitcoin (BTC) is on the edge of a move that will strengthen the crypto markets. Van de Poppe expects Bitcoin to sweep the low if it does not break through $30,300-30,500.
Van de Poppe states that breaking through $30,300-30,500 could lead to Bitcoin back to $31,000. BTC is worth $29,714 at time of writing, down 3% in the last week. The analyst says that if this area is not broken then it looks like another sweep of the low for Bitcoin may occur.
Looking at Chainlink (LINK), Van de Poppe expects the Ethereum (ETH)-based altcoin to expand even more with LINK currently trading for $8.09 at time of writing and up 18% in the last 24 hours.
Stellar Entry Point
The trader suggests Stellar (XLM), which is XRP’s rival currency as an entry point for long trades at $0.14 with XLM currently trading for 0.163 at time of writing and up 15% in the last 24 hours.