Van de Poppe Bets Big on bittensor:native Amid Bitcoin Price Action

Michaël van de Poppe recently made a bold move in his altcoin portfolio by allocating $25,000 to bittensor:native (TAO). This investment is seen as the conviction trade that aligns with his cycle thesis, which diverges from the current price action of Bitcoin. According to Van de Poppe, Bitcoin's price movement is mirroring that of 2022.

The TAO asset currently trades at $261.2, positioned within its Bollinger band, with support levels set at $239.7 (EMA50) and $221.8 (EMA200). The MACD indicator has confirmed a golden cross, signifying trend strength. However, the RSI reading of 64.27 suggests room for further price movement before it reaches upper-band resistance at $277.47.

Van de Poppe's investment strategy is focused on anticipating a measured pullback to the 50-EMA support level before TAO continues its upward trend rather than experiencing immediate exhaustion.