Michaël van de Poppe Believes Bitcoin (BTC) Is Gearing Up for the Next Leg Up

In a new strategy session, trader Michaël van de Poppe tells his 733,600 followers on the social media platform X that Bitcoin could soon soar

output: A popular crypto strategist is charting the next path of least resistance for Bitcoin (BTC) and two other top crypto assets following a massive rally in the wake of the US presidential election.

In a new technical analysis video, Michaël van de Poppe tells his 733,600 followers on the social media platform X that Bitcoin is poised to continue rallying after setting a new all-time high.

According to van de Poppe, BTC is now eyeing a move towards the $80,000 price level in November. However, he says that the apex crypto may first retest the $71,679 support zone before hitting higher ground.

“Bitcoin is consolidating around a new ATH. I do believe we’ll continue, but probably have a slight correction first – dips ready to be bought. Next? $80,000 in November.”

The crypto analyst also notes the massive inflows into spot Bitcoin exchange-traded funds (ETFs) since pro-crypto candidate Donald Trump won the US presidential election on Tuesday.

According to van de Poppe, the inflows, which began on Tuesday, indicate that Bitcoin is now entering the most explosive phase of the market cycle.

“Record-breaking inflow in Bitcoin since Trump won the elections. More than $2 Billion has flown into the Bitcoin ETF. More than $120 million has flown into the Ethereum ETF. The bull market is here.”

At the time of writing, BTC is trading for $75,966, up more than 11% since is Election Day low of $68,206.

Next up, van de Poppe is turning bullish on Bitcoin's second-in-command crypto asset, ETH.

He says that ETH will continue to rally higher with retests of lower price points along the way.

“ETH at $2,900. Good start. The strategy is simple: be long, buy the dips and enjoy the ride.”

According to van de Poppe, ETH is now eyeing a move towards the $3,200 price level.

At the time of writing, ETH is trading for $2,920, up more than 21% from its Election Day low of $2,403.

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