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Michael van de Poppe: Bitcoin needs a higher high after recent sweep

Michael van de Poppe: Bitcoin needs a higher high after recent sweep
Bitcoin faces risk below $75,000 on new low

Michael van de Poppe said that after a recent sweep in Bitcoin, he wants to see a higher high form. He noted that if this does not happen, there is a risk of another sweep of the low, pointing out that Bitcoin has previously shown a relatively strong bounce from that level. Van de Poppe cautioned that if another sweep occurs, there is nothing stopping Bitcoin from moving below $75,000.

Van de Poppe previously connected declines in bitcoin and altcoins to renewed volatility in the Korea market, rather than factors intrinsic to crypto, as noted in his recent commentary. He has also observed that expected major downturns in bitcoin prices often do not materialize after sweeps of recent lows, pointing to signs of resilience in the market in a separate analysis. These perspectives inform his outlook as bitcoin tests new levels.

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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