A popular cryptocurrency analyst is digging into the charts to see what’s next for Bitcoin (BTC) and one enterprise-grade blockchain platform.
Michaël van de Poppe in a new post warning His 602,500 Twitter followers said he was watching $29,300 as a key metric for Bitcoin.
“For Bitcoin, we are still watching the $29,300 level.
If this continues, we will see a continuation in the market.
If that’s lost, I’m waiting to see if we can sweep a real low and hit $26,000.”
Van de Poppe goes into more detail in his video strategy session. inform His 166,000 YouTube subscribers said Bitcoin is likely to maintain a significant window between $29,200 and $29,400.
“Possibility of reaching $32,834 and then dropping again to test $27,000 again [or] $28,000 is a very probable scenario where the accumulation period for the market is extended.
For now, I think the odds are favorable. In particular, when the index rises and DXY [US dollar index] We will bearish and hold $29,300. That’s an important breaker for me, so the entire block between $29,200 and $29,400 is the block we think we should hold.
If it does not hold, it will sweep this low ($28,000) and continue downwards south. We are seeing a bullish divergence to test the lows and then close the correction. Then I started attacking long again.”
Van de Poppe wraps up his Bitcoin analysis by stating that he expects the major crypto asset to rise once again by market cap after BTC has traded negative for nearly two months.
As of this writing, Bitcoin is down 2.5% and is trading at $29,235.
Van de Poppe also looks at Ethereum (ETH) competitor Fantom (FTM). trader now secret If FTMs can participate in the altcoin rally, we expect it to happen soon.
“It looks like everything will be a breakthrough next week.
In this case, some altcoins have been severely destroyed, one of which is FTM.
We are waiting to see if $0.325 can find support.
In this case, $0.36 – $0.45 over 0.38.”
The Phantom is now up 6.05% in the last 24 hours and is priced at $0.35.
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