Home Crypto Here’s What’s Next for Bitcoin After Top Cryptocurrency’s New Record High, According to Trader Michaël van de Poppe

Here’s What’s Next for Bitcoin After Top Cryptocurrency’s New Record High, According to Trader Michaël van de Poppe

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Here’s What’s Next for Bitcoin After Top Cryptocurrency’s New Record High, According to Trader Michaël van de Poppe

Crypto dealer and strategist Michaël van de Poppe is outlining key value ranges to watch after Bitcoin (BTC) hit a brand new all-time excessive earlier this week.

Van de Poppe tells his 136,000 YouTube subscribers that the flagship cryptocurrency is within the second section of its present long-term bull cycle, and bearish sentiment has light.

 

“At this stage, we’ve had such a run with out a corrective second in any respect. We’ve additionally skilled this run of about 77% in August, after which we had a normal 25% correction.

Also, the arguments had been, folks had been saying that this could be a decrease excessive and a useless cat bounce. We’ve simply made new highs by means of which all the bear market’s considering or precise statements is gone at this stage.

So we’re truly seeing that we’re nonetheless within the second section of the bull cycle.”

Moving ahead, the analyst says that the primary BTC value ranges to watch are at $75,000 and $100,000 if the bull run continues.

“If you have a look at the psychological factors within the value valuation, then $75,000 is the primary one.

If you have a look at the subsequent one, it’s going to be $100,000. So these two are essential to watch.

The third one is that total zone that we’ve obtained round $87,000 to $90,000. This is an space that I’m marking as a vital resistance zone if we proceed operating.”

Van de Poppe says that between $70,000 and $75,000, Bitcoin’s value might right.

“I believe between $70,000 to $75,000 might be the world the place we must be watching for potential shorter reversal, given the truth that persons are going to take earnings.

But additionally given the vertical run we’ve obtained proper now. And third, we’ve obtained the precise psychological value degree there.”

Bitcoin is buying and selling at $66,187 at time of writing, down 1.7% from its all-time excessive, in accordance to CoinGecko.



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