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August 9, 2022
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Michaël van de Poppe: the key level for the BTC rate is now $ 58,500 –

Cryptocurrency analyst Michaël van de Poppe has charted the short-term trajectory of Bitcoin’s price. In New videoHe presented on the web predicts that the key now is to break the $ 58,500 mark. He also has great news for ETH fans.

Van de Poppe: keep a close eye on the BTC rate!

In his opinion, attention should now be paid to the breakthrough of $ 58 500.

– What is important now given the daily timeframe is this whole area, so all above [58 500 USD] will lead the markets to new all-time records The expert said.

However, he also has some bad news.

Is this what I expect? I do not expect this at this stage where I assume we will have a limited range figure – added.

In the lower timeframe, van de Poppe notes that Bitcoin is facing clear resistance at $ 56,200 and is trying to find support at $ 54,100.

However, it also warns that if the $ 54,000 level does not act as a support for BTC, the cryptocurrency will likely retest the $ 50,000 level, which could happen this week. May temporarily drop to $ 48,500.

Season for alts

If the flagship cryptocurrency drops, it will likely create room for an extended alta season.

– At least the altcoin season will last much longer or it will continue if Bitcoin drops – He said.

When it comes to Ethereum, the analyst’s chart shows that the second largest asset in the cryptocurrency market in the period up to mid-April may start to grow stronger.

The critical level for ETH is $ 1,660 and if that fails, [mamy] 1500 USD Says van de Poppe. However, a price jump to as much as USD 1,750 is possible, and then the fight for an ATH breakthrough and an increase in the price above USD 2,042.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will find out how you can efficiently create one: LINK.

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