Bitcoin’s Breakout Blueprint: Top Trader Insights
Cryptocurrency trader Michaël van de Poppe believes that two key factors could trigger a significant breakout for Bitcoin (BTC).
In his recent analysis, Van de Poppe is closely monitoring whether Bitcoin can surpass critical resistance levels. He emphasizes that for Bitcoin to make substantial upward progress, it must first overcome the $28,800 barrier. Once this level is breached, he foresees a rally to approximately $32,000. Additionally, he points out two significant factors that could further influence the market:
- The impending introduction of a spot Bitcoin ETF, is highly anticipated and generally seen as a positive development for the cryptocurrency.
- The Bitcoin halving event, historically considered a bullish catalyst.
Van de Poppe predicts that Bitcoin will establish support in the $28,600 to $28,800 range within the next two weeks and test the $32,000 mark. He suggests tha substantial price breakout for Bitcoin could cur as early as December.
READ MORE: Bitcoin ETFs Set to Skyrocket BTC According to CryptoQuant’s Forecast
In the current price structure, he believes there is a significant likelihood of Bitcoin surging beyond the $28,800 to $28,600 range in the coming one to two weeks. Once this hurdle is crossed, a rally towards $32,000 is expected.
There may be a correction to approximately $29,000 at some point, followed by the approach of the Bitcoin halving event, which is expected to commence in December. This event has the potential to drive Bitcoin’s price to the $45,000 to $48,000 range.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
