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October 1, 2023
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Analyst Micheal van de Poppe Maps the Next Price Action for Bitcoin & Altcoins

The post Analyst Micheal van de Poppe Maps the Next Price Action for Bitcoin & Altcoins appeared first on Coinpedia Fintech News

The markets are slowly heating up with a slow transition in the sentiments. Bitcoin is slowly moving upwards and the altcoins are waking up from a deep sleep. The recent price action lifted the markets significantly up beyond the crucial levels around the 200-week MA & EMA. Further, the market cap continues to form higher highs and lows which suggest a potential upswing but also carries the possibility of a new correction. 

Well-known crypto analyst, Micheal van de Poppe, marks the next trade set-up for Bitcoin and top altcoins like Polygon (MATIC), Ripple (XRP) & Litecoin (LTC)

Bitcoin (BTC) 

Bitcoin in the short term appears to have stuck within a narrow range due to dropped volume and volatility. However, in the long term, the token continues to flash a bullish signal as the price appears to be at the foothill of a massive explosion. 

“Massive signal on the weekly chart for Bitcoin.

The 200-week MA and EMA both held.

Additionally, another higher low was made, so we’ll be looking at a higher high in the coming period.

Raw lines, but expecting us to rally substantially before a new correction,”

Polygon (MATIC) 

Polygon’s price, after facing rejection from $1.5, has been maintaining a steep declining trend. However, the bulls have currently halted the bearish trend and managed to maintain a horizontal trade. Besides, technicals suggest the price is closer to a bullish breakout. 

“This one looks decent. 

Massive cascade to $0.50 resulting into a chain reaction of liquidation on the long side. 

Those have all been taken 

Likely that we’ll be breaking up, needs to flip $0.75. 

Looking to long a retest around $0.55 or flip $0.75,”

Ripple (XRP)

Even though the price is facing significant bearish action, the trend continues to ascend, heading toward the target set at $0.55. The token is displaying enough strength and hence is believed to maintain a healthy upswing ahead. 

“I’m interested in XRP if we flip the level of $0.5025, then we can start having continuation towards the highs,”

Litecoin (LTC) 

The Litecoin price has been trading within an ascending channel for a long time. The trend remained elevated, displaying significant strength ahead of the much anticipated halving event. The price is assumed to be hovering within a pre-halving phase and a massive upswing is assumed to be triggered soon after the event. 

“Great weekly candle, through which we’ll most likely continue running towards $102.

After that, slight correction before continuation towards $180 if a breakout above those recent highs is happening,”

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