bitcoin-bottom-20-decline/” rel=”nofollow”>Cryptography expert Michael van de Poppe has highlighted an important indicator that suggests bitcoin could experience a crucial rally from its current price level. This follows the lead of the flagship cryptocurrency recent drop below $60,000.
btc gap on CME has closed
Van de Poppe reveals himself on an x (formerly twitter) x.com/CryptoMichNL/status/1808525726947147990″ rel=”nofollow”>mail that bitcoin-price-bulls-cme-gap-retest-8k/” rel=”nofollow”>The bitcoin gap on the CME He closed and added that it is time for the crypto token to enjoy a relief rally from its current price level. From the chart he shared, bitcoin will regain $60,000 as support before continuing to rise.
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bitcoin-gets-156000-price-tag/” rel=”nofollow”>Cryptocurrency Analyst Mkybull crypto He also confirmed that the CME gap has been filled. Similar to Van de Poppe’s prediction, the analyst expects bitcoin to reclaim the $60,000 range and possibly continue its uptrend. Mikybull crypto revealed that bitcoin has completed its inverted head and shoulders pattern on the daily chart. He predicted that the flagship cryptocurrency could reach a minimum breakout target of $70,000 when it successfully breaks above $62,000.
Mikybull crypto also mentioned that the bitcoin-death-cross-on-monthly-macd-spells-doom-for-december/” rel=”nofollow”>Moving Average Convergence/Divergence The indicator (MACD) indicates that a bullish crossover is imminent for bitcoin. He noted that this indicates strength for the flagship cryptocurrency and that its price is poised to rise. The cryptocurrency analyst is also undeterred by bitcoin’s recent underperformance as he is confident that a parabolic rally will soon follow.
Contrary to what some might think, he stated that the bitcoin-cycle-top-13-on-chain-indicators/” rel=”nofollow”>top of the cycle is not yet available and that this is simply a “final jolt” before the market peaks. Based on the chart he shared, he predicts that bitcoin will still surpass $100,000 and possibly reach $130,000. The analyst had bitcoin-gets-156000-price-tag/#:~:text=More%20recently%2C%20crypto%20analyst%20Mikybull,peak%20in%20this%20bull%20run.” rel=”nofollow”>previously mentioned between $138,000 and $150,000 as “optimal targets for bitcoin in this bitcoin-bull-market-glassnode/” rel=”nofollow”>confinement.“
What's next for bitcoin?
As bitcoin fails to hold above $60,000, so-called bears are growing louder in the cryptocurrency community. Some predict that the flagship cryptocurrency could bitcoin-price-crashed-below-40000/” rel=”nofollow”>Fall to the $40,000 range Coming soon. Cryptocurrency Analyst CrediBULL crypto x.com/CredibleCrypto/status/1808567855144648923″ rel=”nofollow”>reclaimed that “there is still a long way to go” for bitcoin to fall into that range, suggesting that is unlikely to happen anytime soon.
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He also provided insight into what is likely to happen to bitcoin at its current price level. According to crypto%20Analyst%20Reveals%20Bearish%20Expectations,-by%20Scott%20Matherson&text=crypto%20analyst%20CrediBULL%20Crypto%20has,low%20as%20%240.5%20soon%20enough.” rel=”nofollow”>CrediBULL CryptocurrencyThere is a possibility that bitcoin breaks the low of $58,000, holds a higher low above the low of $56,000 and then reverses from there. Furthermore, it raised the possibility of bitcoin falling to the low of $58,000. bitcoin-targeting-50000-in-december-analysts/” rel=”nofollow”>Demand area of $53,000 if the lows of $56,000 are broken.
Furthermore, the cryptocurrency analyst mentioned that $40,000 could become possible if bitcoin fails to hold above $53,000. However, he believes that this scenario of bitcoin falling to $40,000 is “the least likely to happen.” He noted that this is not something anyone should put “much weight on at any given time.” bitcoin-bull-market-glassnode/” rel=”nofollow”>this time.”
Featured image created with Dall.E, chart from Tradingview.com
