Michaël van de Poppe Shares a Prediction for Bitcoin, Ethereum, and Chainlink
Michael van de Poppe, a crypto strategist shares a tweet about the future of Bitcoin, Ethereum and Chainlink, from financial researcher Jason Goepfert
“Short Squeeze Incoming” Van de Poppe Says
According to Van de Poppe, the record short positions in traditional markets are actually a bullish sign.
“Short squeeze incoming,” tweeted Van de Poppe.
The short squeeze occurs when traders who borrow units at a certain price in an attempt to sell them at a lower price are forced to buy back as the trade moves against theirs.
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Its all over the news and moreover if you analyse the chart properly from 30 mins to month time frame, you would definitely see that the downtrend is not over and its about to get worse.
— junior (@DeimpossibleTW) September 25, 2022
One Twitter User commented Van de Poppe post, saying “Its all over the news and moreover if you analyse the chart properly from 30 mins to month time frame, you would definitely see that the downtrend is not over and its about to get worse.”
Predicting Rally for Bitcoin, Ethereum, and Chainlink
As Van de Poppe predicts a rally in the traditional market, the crypto analyst expects Bitcoin (BTC) to follow suit.
“Bitcoin held the crucial area around $18,500 and is now looking to break out of this range. Another test of $19,500 (probably Monday) and we’ll be good to go. Crucial barrier to hold: $18,500.”
At the time of writing, Bitcoin price is $20,177 according to Coinmarketcap.
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ETH (Ethereum) follows, with support holding at $1,200, according to Van de Poppe.
“Ethereum still on support, which was previously the resistance area. Interesting though. It should be holding here and test $1,425-$1,450 area,” he said.
At time of writing, Ethereum is changing hands for $1,384 quoted from Coinmarketcap.
Additionally, the analyst closely monitors Chainlink (LINK). LINK might experience a short-term pullback before igniting the next leg up, according to Van de Poppe.
“Two levels I’d be watching on LINK (and I think we’ll be going towards $12-$15 soon). Resistance around $8 to be tested would be a scalp short. Swing longs around $7.”
At the time of writing, Chainlink is valued at $8.35.
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