The crypto market looks great today with the altcoins catching up and trading mostly in the green, following Bitcoin’s breakout from this week.
Bitcoin’s breakout is not over
Crypto analyst and trader Michaël van de Poppe says that he believes Bitcoin’s big breakout is not over yet.
He recently said that his eye is on BTC’s weekly close as the top crypto targets $16,000.
“Last hours are showing acceleration as we’re approaching next weekly level around $16,000,” he said.
He continued and said that “The U.S. stocks are also doing their work as they’re up about 7% (Nasdaq) in the previous 36 hours. Let’s see where BTC will end, before or after $16K.”
He also pointed out to the fact that Bitcoin will definitely surpass its ATH and this will happen in 2021. He explained that we’ll be seeing some healthy corrections along the way.
“It’s intriguing that accounts shout that BTC has an easy ride from here towards $20K. I don’t see that happening in one go. Sideways, corrective movements would fuel an even stronger move. New ATH Q1 2021 most likely.”
Just the other day we were reporting that Bitcoin could be breaking free from its correlation with the stock market, and the king coin is now gearing up for a parabolic 2021, says a new report from Bloomberg.
Ethereum and XRP analysis
The analyst brought up XRP as well and explained that the digital asset needs to build sustainable momentum and surpass the 30 cent mark before buying.
“If we reclaim 1900 sats, I’d be definitely interested. If we get a bounce up and we jump back down again and reclaim this level here [at 1660 satoshis] we are establishing that will also mean that we have a bullish divergence and that will trigger a long entry.”
XRP is also trading in the green, and the digital asset is priced at $0.262885.