Crypto analyst Michaël van de Poppe says Bitcoin is clearly bullish.
In a series of posts on X, van de Poppe downplays market jitters, pointing to strong momentum and supportive lower-timeframe technical indicators as signs that the trend is strongly intact.
“There’s no need to stress, markets are eagerly going up for Bitcoin.”
But despite his optimism, Poppe warns Bitcoin may briefly stall a key resistance level.
“The crucial resistance at $79K has a lot of sells/shorts to break through. Likely we’ll test it first, come back down for a little, find extra stamina, and then we’ll push through to $86K…
Overall, the higher Bitcoin goes, the more momentum there is, the heavier the breakouts on alt coins will be.”
Poppe describes the current market phase as constructive consolidation within an uptrend.
“A period of consolidation, but clearly upwards pattern. This means that there’s likely more upside to come for Bitcoin towards the $85,000 area…
Would expect this to happen in the next 2–3 weeks as it usually lags Nasdaq a little.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Generated Image: Midjourney