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Michael van de Poppe: Bitcoin remains rangebound with $78K resistance level in focus

Michael van de Poppe: Bitcoin remains rangebound with $78K resistance level in focus
Bitcoin holds range, altcoins show potential

Michael van de Poppe discusses the current price action of bitcoin, stating that he does not expect significant momentum at this time.

He notes that bitcoin is still trading within a range, which he believes is creating strong opportunities for altcoins. He highlights resistance in the market and is now looking at a possible test of the $78K level for bitcoin.

Earlier this month, van de Poppe outlined two scenarios for bitcoin, anticipating either a direct move to $81,000 or a pullback toward $74,000 before recovery, according to a previous forecast. He has also pointed to high leverage as a factor creating volatile price wicks that have opened entry points for spot buyers, as noted in his earlier remarks. These observations have informed his near-term market outlook.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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