Cryptocurrency analyst Michael van de Poppe says Bitcoin is clearly bullish.
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“There is no need to confirm, the markets are eagerly moving towards Bitcoin.”
But despite his optimism, Pope warns that Bitcoin may pause briefly at a key resistance level.
“Critical resistance at $79k has a lot of buy/sell to break. We’ll probably test it first, then come back down a bit, find a little more stamina, and then we’ll push towards $86k…
In general, the higher Bitcoin, the greater the momentum, and the stronger the breakouts on altcoins.
Bob describes the current market phase as a constructive consolidation within an uptrend.
“A period of consolidation, but there is clearly a bullish pattern. This means that there is likely to be more upside for Bitcoin towards the $85,000 area…
I expect this to happen in the next 2-3 weeks as it usually lags the NASDAQ a bit.
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