Michael van de Poppe, a widely followed crypto analyst, shared his comments on Bitcoin and the altcoin market. On the other hand, legendary analyst John Bollinger made a “call for caution” for Ethereum price. Here are the details…
Michael van de Poppe drew attention to Bitcoin and altcoin movements
Crypto trader Michaël van de Poppe told his 626,100 Twitter followers that altcoins will follow BTC’s volatile market bounce. The analyst mentioned that altcoins attracted attention with a volatile $2,000 movement of BTC. Earlier, Van de Poppe said that if BTC exceeds $20,000, it could rise to $25,000. He stated that the important part is to go above $20,000. In addition, Van de Poppe uses the following expressions:
Markets are following this well. Bitcoin is back with strong candles hinting at lows, recovery and strength as the [USD] index plummets. In this case, we can continue towards $21,500, consolidate and hold above $20,000, and continue towards $23,000-25,000.
After Bitcoin, altcoins will follow
When Bitcoin explodes, the crypto trader says altcoins will follow closely. “Bitcoin is breaking strong upwards as the dollar has lost value overnight. Meanwhile, altcoins are correcting a bit in BTC pairs as Bitcoin takes the spotlight. Altcoins will do the same,” he says. Looking at two specific altcoins, Van de Poppe points his followers to Chainlink (LINK) and Cosmos (ATOM). The analyst uses the following statements:
Chainlink looks strong and there is still a great opportunity here, I keep repeating that. ATOM looks very strong here, while many other altcoins are starting to show signs of strength. The coming months will be fun with a ton of volatility.
Looking at the overall crypto markets, Van de Poppe is cautiously optimistic. “Ultimately, the total market cap is at a very important point. It might be the bottom, but if it isn’t, we’re in serious trouble. The crypto aggregate market cap is retesting the 200-week moving average. It’s being held heavily,” he says.
John Bollinger shares his expectations for Ethereum
In a recent tweet, legendary trader John Bollinger claims that it is time to pay attention to Ethereum’s price action. As the veteran chartist noted, the second largest cryptocurrency is currently trading in the upper band of the Bollinger Band (BB) indicator. When the distance between the lower and upper bands narrows significantly, it creates a squeeze that often serves as a harbinger of extreme volatility. Ethereum is up 5% in the last 24 hours and is trading at $1,724. The flagship altcoin underperformed Bitcoin, which was on track to secure one of its best days last year. The largest cryptocurrency managed to rise more than 10%.
What time is it? $ETHUSD is breaking out of a BB Squeeze. Must be time to pay attention!
— John Bollinger (@bbands) September 9, 2022
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