Esteemed cryptocurrency trader Michael van de Poppe (@CryptoMichNL) shared his latest Bitcoin (BTC) technical analysis via Twitter this morning. As per his tweet, the pivotal price point of $27,900 for BTC remained steadfast, leading to a remarkable overnight surge in the market leader’s value, which reached $28,700.
The astute trader wrapped up the tweet by saying that a consolidation period at this juncture could pave the way for Bitcoin’s price to soar to $30,000 shortly.
Van de Poppe’s latest video analysis delves deep into the world of BTC, with the seasoned trader setting his sights on an upside target of $40K-$45K. Drawing on his extensive knowledge and experience, van de Poppe predicts that the Dollar Currency Index will undergo a significant correction shortly, paving the way for a bullish trend in higher-risk assets like crypto and BTC. His insightful analysis offers valuable insights for investors looking to make informed decisions in the ever-evolving world of cryptocurrency.
According to the trader, BTC is poised for a few months of bullish momentum before undergoing a correction and then resuming its upward trajectory. Van de Poppe substantiated this claim by pointing out that this window of opportunity will only be available until the Fed pivots its monetary policy, a move he anticipates will occur in the coming months as the interest rate hike phase draws to a close.
As of publication, BTC’s value continues to soar above the $28K threshold, currently at $28,517.96, as reported by CoinMarketCap. Impressively, the past 24 hours have seen a gain of 1.69%, effectively turning the tide on BTC’s weekly performance, which now stands at a positive 1.50%. This surge in value has resulted in BTC’s total market cap being estimated at a staggering $551.572 billion.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
