A widely followed crypto trader is extending his congratulations to other traders for surviving the longest bear market cycle ever, so far.<\/p>\n
Crypto analyst Micha\u00ebl van de Poppe\u00a0tells<\/a> his 665,800 followers on the social media platform X that he expects a big payoff for \u201chodling\u201d, or \u201cholding on for dear life\u201d, sometime in the next 1-2 years.<\/p>\n \u201cIf you\u2019re still in the crypto markets, congratulations.\u00a0<\/em><\/p>\n You\u2019ve survived two years of an extended bear market, the longest in the history of Bitcoin and you\u2019re still investing.<\/em><\/p>\n They\u2019ll call you lucky in 1-2 years\u2019 time, but they don\u2019t know the effort you\u2019ve put into it.\u201d<\/em><\/p>\n According to Van de Poppe, this is the longest bear market in Bitcoin\u2019s (BTC<\/a>) relatively short history.<\/p>\n In a lengthy post, Van de Poppe\u00a0explores<\/a>\u00a0the question \u2013 With BTC breaking over $27,000, is the crypto correction finally through?<\/p>\n \u201cIt might.\u00a0<\/em><\/p>\n We\u2019ve broken out of the tiny range and we need to stay above to avoid another liquidation cascade.\u00a0<\/em><\/p>\n If we do, we\u2019re confirming that the correction is over and that we\u2019re going to target new highs.\u00a0<\/em><\/p>\n Bitcoin\u2019s price broke above the crucial resistance at $26,800 and couldn\u2019t provide continuation, until the big breakout yesterday.\u00a0<\/em><\/p>\n The breakout which happened through positive news on Grayscale, Binance, X and DCG (Digital Currency Group).\u201d<\/em><\/p>\n Van de Poppe says that several external macro factors are contributing to a positive trading climate for crypto.<\/p>\n \u201cA summary:<\/em><\/p>\n \u2013 Job openings came in with a massive miss on the downside.\u00a0<\/em><\/p>\n \u2013 Consumer confidence on the lowest level in a while, comparable to numbers during a recession.\u00a0<\/em><\/p>\n As a response:<\/em><\/p>\n \u2013 Dollar drops down.<\/em><\/p>\n \u2013 Yields drop slightly, might be topping (but no confirmation yet!).<\/em><\/p>\n \u2013 Gold & Silver surging.\u201d<\/em><\/p>\n From a technical analysis (TA) perspective, the analyst could see BTC possibly heading in a few different directions.<\/p>\n \u201cRight now, Bitcoin jumped from $26,000 to $28,000 and didn\u2019t hit my entry points. Perhaps the entry points where it hit already, who knows.<\/em><\/p>\n For now, you\u2019d prefer to see Bitcoin stabilize and hold above a few important levels. I\u2019d identify the level at $26,800 as crucial in which I don\u2019t want to see a clear breakdown beneath that level as then we\u2019d be back in the range and get a liquidation cascade.\u00a0<\/em><\/p>\n In that scenario, my bids at $24,800-25,200 still make sense, but then you\u2019d argue that we\u2019re in a weak case and could lose the 200-Week EMA (exponential moving average) and go down even more.\u00a0<\/em><\/p>\n If we sustain here, we copy\/paste the 2015 momentum in the markets and are on the edge of a massive move upwards.\u201d<\/em><\/p>\n BTC is worth $27,165 at time of writing, up over 3% in the last week.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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