A popular crypto analyst is laying out his roadmap for Bitcoin (BTC) and two altcoins, including an Ethereum (ETH) competitor.
Michaël van de Poppe tells his 621,800 Twitter followers that Bitcoin is currently consolidating.
He says if BTC does dip in price, it needs to hold a low in the area around $21,323 to avoid a “trend switch.”
“The trend is still upwards, potentially a correction now is taking place due to CPI fears.
Important:
Hold above $21,300 to continue the trend.
Break above $24,500 to continue to $28,000.”
BTC is trading at $23,893 at time of writing. The top-ranked crypto asset by market cap is up more than 3% in the past 24 hours.
Van de Poppe also notes that Ethereum rival Fantom (FTM) could surge all the way to $0.50.
FTM is trading at $0.405308 at time of writing. The 57th-ranked crypto asset by market cap is up nearly 10% in the past 24 hours.
Van de Poppe says Zilliqa (ZIL), a blockchain designed for enterprise solutions, is also consolidating. The trader says ZIL is most likely to take off on a breakout as soon as it jumps above $0.049.
ZIL is trading at $0.045384 at time of writing. The 80th-ranked crypto asset by market cap is up more than 5% in the past day.
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Featured Image: Shutterstock/breakermaximus