One crypto analyst widely followed is warning Bitcoin (BTC?) traders that a correction might be in the future as the king crypto rockets through $26,000.
Crypto trader Michaël van de Poppe tells His 652,200 followers on Twitter want him to test if Bitcoin can maintain the $25,900 price today.
“Great move on Bitcoin, broke through crucial $25,000 and attacking the yearly highs.
On lower timeframes, I’m watching whether $25,900 can sustain today for support.
If it can’t, harsh correction might be it.
If we can, $28,000-$30,000 is next -> potential shorts.”
Van de Poppe’s BTC trading at $26,453 as of the writing wants Bitcoin to keep these levels, or go higher to confirm a rally towards $30,000.
“Bitcoin continued to hold above $25,900 and is printing a new high, almost.
We must keep pushing and we will be able to do $28,000-$30,000 more.
This push is needed in the next hours to avoid bearish divergences or potential reversal.
Interesting volatility.”
Van de Poppe warns that if BTC can’t hold $26,000 today, he expects Bitcoin to fall to the $25,000 price zone.
“Chopperino land on Bitcoin, which means that we’ll probably have some sideways structures.
You will need to have $26,000. If this holds, then $28,000-30,000 will be next.
If it loses $26,000, I’m punting around $25,000 for some longs.
Relatively easy to understand.”
Analyst says that BTC might still be available for some. corrections before it’s all said and done.
“It seems we’re in for some slight corrections on the markets for Bitcoin.”
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