More
    HomeAltcoinsCrypto Analyst Says Bitcoin (BTC) ‘Fighting Crucial Levels’, Does a Deep Dive...

    Crypto Analyst Says Bitcoin (BTC) ‘Fighting Crucial Levels’, Does a Deep Dive Into the Altcoin Cycle

    Published on

    DIGITAL MARKETING SERVICES

    spot_img
    Crypto Analyst Says Bitcoin (BTC) ‘Fighting Crucial Levels’, Does a Deep Dive Into the Altcoin Cycle

    A widely followed crypto analyst is breaking down Bitcoin’s (BTC) trajectory while taking a hard look at the altcoin cycle.

    Crypto trader Michaël van de Poppe tells his 668,800 followers on the social media platform X that BTC is in the midst of “fighting crucial levels.”

    “Bitcoin fighting crucial levels. 

    A retest around $27,700 would still be possible, while Gold is continuing the upwards run.

    Above $28,800 and we’ll be eager towards $30,000 in a matter of time.”

    Source: Michaël van de Poppe/X

    In the analyst’s opinion, it might not be so bad if BTC were to consolidate for a period.

    “Bitcoin is not following through, and to be fair, I’d rather want to see it consolidate here for a few days before continuing.

    Taking out some liquidity on the long side, through which a test at $27,600-27,800 seems likely. 

    Both $27,700 and $27,300 are long regions.”

    Source: Michaël van de Poppe/X

    BTC is worth $28,668 at time of writing.

    Moving on to the altcoin markets, Van de Poppe says alts are in the middle of the last phase of the bear cycle.

    “Altcoins are in the last part of the bear cycle. 

    Yes, it feels relatively painful. The sentiment is completely gone, no interest in crypto. 

    The only thing moving is Bitcoin and, yet, that one needs to crack some levels.”

    The analyst says this bear market has been the longest-lasting one for altcoins. In the current geopolitical climate, and with US regulators considering the approval of a Spot BTC exchange-traded fund, Van de Poppe thinks BTC is likely to move up.

    “Through that, the upside is significantly in Bitcoin and other altcoins. Bitcoin is the first-runner, almost always. People buy altcoins when there’s confidence in the markets, but if you look at the bigger ones, like Chainlink, or Solana, or Injective. 

    They all start to trend upwards already. Ethereum is showing weakness all over the place as there was a lot more hope into the ETH ETF Futures launch, which didn’t happen. 

    Right now, Ethereum is finalizing the final correction on the Bitcoin pair, hence why we can see the Bitcoin dominance continuing the surge at this point.”

    According to the analyst, BTC’s upcoming halving event will likely set off the altcoin markets.

    “A few months prior to the Bitcoin halving, that was the altcoin bottom. 

    History will most likely repeat itself.”

    Source: Michaël van de Poppe/X

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

    Check Price Action

    Follow us on Twitter, Facebook and Telegram

    Surf The Daily Hodl Mix

    Check Latest News Headlines

    &nbsp

    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Featured Image: Shutterstock/breakermaximus

    The post Crypto Analyst Says Bitcoin (BTC) ‘Fighting Crucial Levels’, Does a Deep Dive Into the Altcoin Cycle appeared first on The Daily Hodl.

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    Pixelverse Gears Up Airdrop Event with 10M $PIXFI Jackpot

    Pixelverse Gears Up Airdrop Event with 10M $PIXFI Jackpot Pixelverse recently announced the debut of its massive 10...

    BlockDAG Captures Market Interest Amidst ICP Crypto and Avalanche Price Instability with $18.2M Presale & Affordable X1 Mining App

    BlockDAG Captures Market Interest Amidst ICP Crypto and Avalanche Price Instability with $18.2M Presale...

    Ethereum Blockchain’s Q1 2024 Success: Unveiling The Factors Behind The $370M Profit Surge

    Ethereum Blockchain’s Q1 2024 Success: Unveiling The Factors Behind The $370M Profit Surge Not only...

    Top 6 Cryptocurrencies to Watch in 2024: BlockDAG’s Expected Price Surge to $10 Outshines BNB, Cosmos, and Ethereum

    Top 6 Cryptocurrencies to Watch in 2024: BlockDAG’s Expected Price Surge to $10 Outshines...

    More like this

    Pixelverse Gears Up Airdrop Event with 10M $PIXFI Jackpot

    Pixelverse Gears Up Airdrop Event with 10M $PIXFI Jackpot Pixelverse recently announced the debut of its massive 10...

    BlockDAG Captures Market Interest Amidst ICP Crypto and Avalanche Price Instability with $18.2M Presale & Affordable X1 Mining App

    BlockDAG Captures Market Interest Amidst ICP Crypto and Avalanche Price Instability with $18.2M Presale...

    Ethereum Blockchain’s Q1 2024 Success: Unveiling The Factors Behind The $370M Profit Surge

    Ethereum Blockchain’s Q1 2024 Success: Unveiling The Factors Behind The $370M Profit Surge Not only...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es