Crypto trader Michaël van de Poppe says that two events could ignite a massive breakout for Bitcoin (BTC).
In a new strategy session, Van de Poppe tells his 161,000 YouTube subscribers that he is watching closely whether BTC can break through key resistance levels.
“If you look at Bitcoin at this point, it needs to break through this level at $28,800. Once it does, it is going to correct all the way towards $32,000. And then we are on the edge of having a big breakout to the upside because we’re going to have an ETF (exchange-traded fund) being applied to Bitcoin, which is relatively sure. We’re going to have the case of the Bitcoin halving, which is usually a bullish trigger.”
The trader predicts that Bitcoin will flip the $28,600 to $28,800 level into support within two weeks and then test $32,000. He also predicts a massive breakout for the king crypto could start as soon as December.
“In the current price structure, I think the odds of breaking through $28,800 to $28,600 in the next one to two weeks are quite substantial. And once we break through it, I think we’re going to rally all the way towards $32,000, maybe have a correction to $29,000 at some point, and then we start to have the pre-halving around, most likely starting in December, which might push us towards $45,000 to $48,000.”
Bitcoin is trading for $28,704 at time of writing.