Bitcoin Bounce Could Be Fake, Top Crypto Analyst Says | CryptoGazette
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There’s a popular crypto analyst who addresses the price of Bitcoin these days. Check out the latest reports below.
It’s been just revealed that Michaël van de Poppe said that BTC retesting the $40,000 level is likely to result in market volatility.
“It’s a very hectic day heading into the weekend… The FOMO [fear of missing out] is increasing across the markets as people feel left out…”
He continued and said:
“Bitcoin has been breaking out heavily after a slight bounce from $36,000. Another test happened at $37,000 and then we started to shoot up… And we have been liquidating a ton of shorts as the volume is increasing significantly.”
He also looks at the Bitcoin chart in order to figure out where BTC may be headed next.
“The question becomes whether we are having a fakeout or a sustainable move as the volume is the highest as we have anticipated since the actual crash occurred.”
Van de Poppe says Bitcoin will face topside resistance in the entire region between $40,700 and $41,500.
“That is the previous range of support likely to test resistance as this is the first time that we’re testing that level. If we break through it, however, I’m assuming we’re going to see a test of $44,200 but definitely moving towards $46,000.”
Bitcoin gets ready for bullish impulse
The crypto market seems to be going on the right path towards recovery. Check out the latest reports about the price of Bitcoin and some bullish predictions below.
It’s been revealed that popular analyst is making the case for why Bitcoin (BTC). He is confident that there is a potential breakout after two months of disappointing price action.
The pseudonymous trader Credible Crypto just said that what the general consensus is for Bitcoin after its late-January rally from the $33,500 level to a whisker below $39,000.
Stay tuned for more news.
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