Crypto analyst and YouTuber Michaël van de Poppe is sharing his altcoin trading strategy as Bitcoin gains ground against the asset class.
After briefly breaking below $32,000 earlier in the week, Bitcoin has since shot back up in value and is trading at $36,226.87 at time of writing, according to CoinGecko.
That bullish move has caused altcoins to lose relative ground to BTC as traders swap their smaller market-cap assets for Bitcoin, Van de Poppe tells his 105,000 YouTube subscribers.
The trader notes that $35,000 is a a very critical level for Bitcoin to hold in order for BTC to continue its momentum upwards. If Bitcoin breaks above the $39,200-$40,800 price zone, Van de Poppe thinks it will begin a new bullish wave. However, he predicts it will first consolidate and test $35,000, then continue its upwards ascent.
Ethereum (ETH) and Cardano (ADA) both had a “healthy corrective move” in their Bitcoin pairs in the wake of BTC’s