A widely followed crypto analyst envisions different scenarios for Bitcoin (BTC) after the king crypto fell 4.5% in a week.
Crypto trader Michael van de Poppe tells are 660,800 Twitter followers that BTC likely wants to go lower before rallying.
“Probably a lot of volatility and still very likely that we are looking at a case of a sweep down for Bitcoin.
Looking at reclaiming $30,200-30,400 if we want to move up.
Yesterday, the analyst made a similar prediction about BTC’s falling lows ahead of the rally.
“Not breaking the crucial area, it looks like we will have another low for Bitcoin.”
According to Van de Poppe, the plan According to its latest charts, BTC still needs to sweep to the $28,500 level before recovering.
“The plan, if Bitcoin doesn’t get back $30,300.”
Alternatively, the analyst to suggest a scenario where BTC has already bottomed out. In that case, according to Van de Poppe, traders who plan to buy BTC for $29,000 will simply be left behind.
“Imagine Bitcoin breaking above $30,400, leaving all $29,000 buyers behind.”
BTC is worth $29,844 at the time of writing, down 0.5% on the last day.
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