Crypto Analyst Breaks Down Bitcoin (BTC), Chainlink (LINK) and Shiba Inu (SHIB) Rival Dogecoin (DOGE)


A widely followed crypto trader believes that today and tomorrow’s price action for Bitcoin (BTC) are of major importance.

Crypto analyst Michaël van de Poppe tells his 661,300 Twitter followers that BTC’s price action will be determined by the US’s personal consumption expenditure (PCE) and gross domestic product (GDP) numbers, both released today.

“Bitcoin rejects at the crucial area at $29,700.

Today and tomorrow are more important.


If numbers are fine, we’ll blast through $30,000, but in order to do that, I wouldn’t be surprised by taking the lows.”

Source: Michaël van de Poppe/Twitter

According to Van de Poppe, the GDP numbers came back more positive than expected. The trader expects BTC to rally if the PCE numbers are also positive.

“GDP comes out way more positive than expected.

That’s great. Soft landing case starts to pick up pace. If GDP was worse than expected, you’d see markets drop.

Bitcoin steady, stocks steady. 

Now PCE better than expected and we go up.”

Still, Van de Poppe says that BTC is likely to take a step lower before taking another step up.

“Open Interest to new highs, price grinding upwards, seems likely to sweep down before up for Bitcoin.

If not? Break $29,700 in one go and we’ll have a party.”

Source: Michaël van de Poppe/Twitter

BTC is worth $29,287 at time of writing.

Moving on to the blockchain oracle Chainlink (LINK), the crypto analyst predicts that LINK is primed to explode.

“Let’s get going on LINK.

Got filled on that retest. Now ready for $10.”

Source: Michaël van de Poppe/Twitter

LINK is trading for $8 at time of writing.

Taking a moment to look at the Shiba Inu (SHIB) rival Dogecoin (DOGE), the crypto analyst again predicts a big move to the upside.

“Well, DOGE probably continues its expansion towards $0.10 here.

Still buy the dip areas.”

Source: Michaël van de Poppe/Twitter

At time of writing, DOGE is worth $0.787.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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