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July 19, 2024
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Popular Analyst, Michael van de Poppe, Maps the Highs for Bitcoin, Ethereum and Other Altcoins

The post Popular Analyst, Michael van de Poppe, Maps the Highs for Bitcoin, Ethereum and Other Altcoins appeared first on Coinpedia Fintech News

The crypto markets are closing the day’s trade on a bullish note after the past couple of days. Hence, it is now believed that the popular tokens are expected to maintain a decent upswing, withstanding the interim bearish actions. However, the Bitcoin price is currently struggling at $30,000, which raises speculation about the beginning of a fresh consolidation. 

During the previous cases, the BTC price underwent a narrow consolidation for more than a fortnight at each resistance, and hence a similar action is speculated at the moment. 

The markets have received a magnificent push ever since the industry giants filed for a Bitcoin spot ETF. While some of them have also announced plans to launch a crypto exchange, which has made the investors extremely bullish in the long term. Therefore, one of the popular analysts, Michael van de Poppe, earlier said that the bull run has begun and now rolls out the highs for the current bull cycle. 

The analyst lists the highs of Bitcoin, Ethereum, Chainlink, Avalanche, Litecoin, & Cosmos and further believes that a correction or rejection could follow the rally. Presently, the Bitcoin RSI has spiked to hit the upper resistance, standing at 70.74. Hence, a minor bearish divergence may drag the price lower. However, RSI is an additional indicator that follows the price, and hence an adjustment could be possible that may make RSI recover over time. 

Having said that, the Bitcoin price may resume with a notable upswing and continue to rise towards the above-mentioned target. While the other altcoins may follow the star crypto and register new highs for the year 2023.

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