A widely followed crypto analyst tells Bitcoin (BTC) that there is “nothing wrong” given one condition.
Crypto trader Michael van de Poppe tells his 659,900 Twitter followers that as long as they don’t trade with high leverage now, they should be fine.
‘Nothing to worry about, friends. Do not trade with high leverage. That’s all.”
In crypto trading, high leverage refers to using borrowed money to increase the potential gains or losses of a trade. While trading with high leverage carries higher rewards, it also correlates with increased risk for traders.
After an up and down week for BTC that ultimately resulted in only a small percentage change in price over the past seven days, Van de Poppe says collapses what he thinks is next for the king crypto.
“Good run to the highs, taking liquidity, reversing, taking liquidity and now back in the range.
Everything is reset.
If we want to take the high again, $30,500 needs to be recovered for Bitcoin, otherwise less than $29,500 is a problem city and we’re looking at $28,000.
BTC is trading at USD 30,340 at the time of writing, down 0.2% in the last hour, up 0.1% in the last 24 hours and up 0.6% in the past week.
Don’t Miss Out – Subscribe to receive email alerts delivered straight to your inbox
Check price action
follow us on Twitter, Facebook And Telegram
Surf the Daily Hodl mix
Featured image: Shutterstock/Vadim Sadovski/BTC Studio/Fotomay