Bitcoin Could Reach New ATH in September if it Breaks This Resistance Level

Crypto strategist Michaël van de Poppe is bullish on Bitcoin's future, forecasting that the cryptocurrency could set new all-time highs if it breaks a significant resistance level.

According to Van de Poppe, a 2.25% increase from Bitcoin’s current price could propel it to new ATHs by early September.

It feels great to have the market breaking out.#Bitcoin bouncing upwards, onto the final resistance at $62K.

If that breaks, then it’s close to getting a new ATH in September.

Expecting a lot of positive inflow in the data on the ETF tomorrow. pic.twitter.com/Etr1LJIA1b

— Michaël van de Poppe (@CryptoMichNL) August 21, 2024

He notes that Bitcoin is currently trading around $60,636, and overcoming the $62,000 mark could set the stage for a record-breaking surge.

This optimistic view is bolstered by expectations of positive data inflows from Bitcoin-related exchange-traded funds (ETFs) expected later in August.

In addition to his Bitcoin outlook, Van de Poppe is also eyeing Ethereum’s potential. He emphasizes the importance of Ethereum breaking the $2,700 resistance level, which could lead to a significant upward movement in the altcoin market.

#Ethereum looks excellent, but it needs to continue climbing upwards.

Crucial level to break: $2,700.

There is nothing between $2,700 and $3,100, likely triggering a big upward run on #Altcoins. pic.twitter.com/oZ99vN8soU

— Michaël van de Poppe (@CryptoMichNL) August 22, 2024

Should Ethereum maintain its position above $2,500, he predicts it could reach $3,150, driven by renewed momentum from the ETF sector.

Van de Poppe’s analysis highlights a generally positive sentiment in the crypto space, with potential bullish trends for both major cryptocurrencies if key resistance levels are breached.