Crypto strategist Michaël van de Poppe tells his 626,000 Twitter followers that BTC needs to find support above $19,500 to spark a rally.
He also notes the importance of European Central Bank (ECB) President Christine Lagarde and Fed Chair Jerome Powell’s upcoming speeches on monetary policy.
“Bitcoin is going so far so good, but needs continuation above $19,500. Then, party time is on. Today can be important with Lagarde and Powell speaking.”
Bitcoin is changing hands for $19,255 at time of writing.
The analyst then says that top smart contract platform Ethereum is “mooning” after finding its bottom on September 7th, adding that altcoins are following in its footsteps.
Other altcoins following.
ETH was in the $1,500 range around the time Van de Poppe made his tweet. It quickly jumped to $1,643 before stabilizing around $1,623 at time of writing.
“Very strong bounce on EOS on the desired level. Looks solid for continuation to $2.”
EOS is trading for $1.62 at time of writing.
The trader concludes his analysis by looking at the total market cap of the crypto industry, saying that a “beautiful” retest of its 200-week moving average (MA) is on the horizon.
“If you’d ask me, then a beautiful retest is being made on the total market capitalization on the 200-Week MA. That implies a significant buying opportunity for you on the crypto markets as [US dollar index] is getting towards a climax too. Going as planned, so far.”
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