- Crypto analyst Michaël van de Poppe predicts a bullish trajectory for Chainlink (LINK) in its pairing with Bitcoin (BTC).
- Historical data from 2019-2020 suggests that LINK may experience significant breakouts, potentially reaching highs of $18 to $20 and then $35.34.
Chainlink Set for Bullish Trajectory in Crypto Market, Suggests Expert Analysis Expert crypto analyst Michaël van de Poppe has identified significant potential for Chainlink (LINK) in its pairing with Bitcoin (BTC), signalling the possibility of a strong performance shortly.
Historical Context: Looking back at Chainlink’s performance from 2019 to 2020, van de Poppe notes that LINK experienced substantial breakouts leading up to Bitcoin’s halving. During that period, LINK surged from $1.60 to $5. He anticipates a similar pattern could unfold, projecting a potential run from $6 to $18 or $20, followed by a correction and another surge towards highs around $35.34. Current Market Position: Van de Poppe observes that LINK is currently in the process of transforming a significant resistance level into support against Bitcoin. This shift in trend suggests that, after a brief correction, more rallies are on the horizon, evidenced by the formation of higher lows and higher highs in the LINK/BTC pair.
Understanding Market Dynamics
Van de Poppe’s analysis points to a strategic opportunity for investors to consider reallocating their resources to Chainlink, especially as it garners support in higher timeframe comparisons with Bitcoin. At the time of the report, LINK/BTC was trading at 0.000358 BTC ($14.64).
In addition to Chainlink, Michaël van de Poppe also highlights promising trends in other cryptocurrencies:
Arbitrum (ARB): The analyst notes a “massive bullish divergence” in Arbitrum, suggesting a potential trend reversal against Bitcoin.
Optimism (OP): Van de Poppe points out that Optimism (OP) appears to be gearing up for another significant upward move against Bitcoin.
As Chainlink continues to demonstrate strength against Bitcoin, the cryptocurrency market is closely monitoring its next moves and the potential implications for the broader market landscape.
