Crypto analyst Michaël van de Poppe says Bitcoin is clearly bullish.
In a series of Posts At
“No need to worry, Bitcoin markets are rising eagerly.”
But despite his optimism, Poppe warns that Bitcoin could stall at a key resistance level in the short term.
“The key resistance at $79,000 still has a lot of selling/shorting to break through. We’ll likely test it first, move lower briefly, find additional endurance, and then break through to $86,000…
Overall, the higher Bitcoin rises, the more momentum there is, the more violent the breakouts in altcoins will be.”
Poppe describes the current market phase as a constructive consolidation within an uptrend.
“A period of consolidation but a clear uptrend. This means there is likely to be even more upside for Bitcoin towards the $85,000 area…”
I would expect this to happen in the next two to three weeks as it typically underperforms the Nasdaq somewhat.”
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