A widely watched crypto analyst predicts a significant rise in the cryptocurrency Bitcoin (BTC) in the coming months.
Top analyst Michael van de Poppe To tell His 652,500 Twitter followers show that BTC looks good against the 200-week Exponential Moving Average (EMA) and the 200-week Moving Average (MA).
“Crypto market capitalization is above 200-EMA and 200-MA.
It usually doesn’t go back down.
If you factor in everything including FTX, Voyager, Celsius, LUNA and 3AC, it goes from $15,000 to $28,500.
It will likely continue at $40,000 to $50,000 in the coming months. “
However, at this point Van de Poppe To tell BTC is looking for lows before going long, and altcoins like Ethereum (ETH) are the better bets at the moment.
“Bitcoin is looking for lows, so it will probably look for longs.
Altcoins and Ethereum are stronger at this stage.”
Van de Poppe for now To tell BTC is just below the main resistance level of $28,600.
“Bitcoin’s $28,600 price level remains a resistance.
With this current structure, I’d like to see the support sweep again.
This level is $27,600.
If it holds, it will recover until $27,600 or $28,600 is tested again. “
Zooming on the BTC chart shows traders To tell It remains to be seen what BTC will do next.
“Let’s see, Bitcoin.”
Bitcoin is worth $28,191 at the time of writing, just below the resistance level highlighted by Van de Poppe.
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