• Bitcoin has broken the $24,600 barrier and is currently trending up by 14%.
• Top analyst Michael van de Poppe predicts some level of retesting before continuing its surge.
• Technical analysis suggests that investors should watch for a possible entry point at $24,250 to establish a long position in Bitcoin.
Bitcoin Price Rally
Bitcoin has experienced an impressive run this week as it broke above the $24,600 barrier and climbed 14% in value. Top analyst Michael van de Poppe believes there will be some level of retesting before the surge continues. Technical analysis indicates that investors may want to keep an eye on the $24,250 mark as a potential entry point for establishing a long position in Bitcoin.
Michael van de Poppe’s Analysis
Michael van de Poppe has released a video discussing his thoughts and predictions on Bitcoin’s current market trends. He maintains that while the bulls are not yet completely in control of the market, it is highly unlikely that the price of Bitcoin will drop below $20,000 anytime soon or even this year. He believes this surge is similar to what occurred in 2019 and anticipates further increases before mid-year.
Technical Analysis Indicators
The 50-day moving average appears to suggest that Bitcoin will continue its upward trend for now. It established support near the 50% Fibonacci Retracement Level ($23,325) creating a spark for buying activity and driving bullish sentiment among traders. Investors may find success if they watch for when prices hit $24,250 as an entry point into long positions with Bitcoin.
Final Thoughts
The past week has seen significant gains from Bitcoin surpassing the 24K mark and climbing higher by 14%, signaling potential good news ahead for cryptocurrency investors. However, it is important to consider expert analysis such as Michael van de Poppe’s when forming investment decisions so you can make well informed decisions on how best to capitalize on these bull runs with cryptocurrency trading activities.
Conclusion
The crypto world continues to buzz with speculation as people attempt to decipher where prices are headed next with BTC rising significantly over the past week reaching 24k+. While expert analysts like Michael van de Poppe offer their insights into market trends which could influence investor decisions along with technical indicators such as Fibonacci Retracements Levels & 50-day Moving Averages – ultimately it comes down to individual risk management strategies & knowledge base when considering taking trades or investing into cryptocurrencies like bitcoin this week or any other time frame going forward within markets..