Hello dear friends and followers, in this new installment I will share with all of you some technical considerations about what the Bitcoin price action may do in the following weeks, this taking into account that for bullish traders there are high probabilities that Bitcoin will develop a new upward movement.
While after the pullback experienced by Bitcoin price action, recovery impulses have not been strong enough to retake and break the $24,000 area, an element that has been interpreted by some analysts as a weakness that may take Bitcoin to the $22,000 area.
From my perspective, even though the impulses to the $24,000 area show some weakness, I think an important fact is that Bitcoin has managed to hold above the 200-week moving average, a very important mark for the health of the price action, as this area is a key support for the Bitcoin price, and at the moment it is above $23,000 so, it is more likely that in the following weeks a new upward move will develop.
It is worth mentioning that for the expert and famous trader Michaël van de Poppe, in the following weeks it will develop a decisive new bullish move, since according to his predictions Bitcoin will first break $23,700, and after that it will break in bullish projection up to the $28,000 to $30,000 area.
In this regard, the bearish voices of the bearish late consider that the price action if will touch the $22,000 levels before a new upward move as mentioned by trader Michaël van de Poppe.
Therefore, I would like to know your views on; What do you think may be the next move that Bitcoin price action will develop, who will take control the bearish or the bullish?.
SOURCES CONSULTED
Michaël van de Poppe - @CryptoMichNL. Crucial to break $23.7K back. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: @CryptoMichNL
I always fail to spot Bitcoin's short-term moves, and I think it always tends to move against expectations...Some say the bull is back, but given the unusual circumstances in the world, I honestly have great doubts
Thank you for sharing :) @lupafilotaxia
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Hi @qsyal
The market reacted to the downside, from my perspective we are in a probable accumulation zone, and or worse is over.
Best regards, be well.
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Well, In as much as everything said is based on speculation. I must confess that it was in-depth and very insightful.
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Hi @lebey1
As I said before, I think we are in accumulation zone and the worst is over.
Best regards, be well.
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Hello friend
BTC saw a low of $17601 on 18th June 22
Luckily it saw reversal of sorts from there.
This rally in crypto is mainly on account of ETH merge news and needless to say ETH has led from the front.
That being said we would be more than happy to see BTC go higher whatever the reason.
Take care my friend and thanks for this nicely researched post :)
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Hi @thetimetravelerz
Somehow these moves are healthy for the market, I think we are in accumulation zone and the worst is over.
Best regards, be well.
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