- Renowned crypto trader and analyst Michaël van de Poppe shared in his recent analysis that Bitcoin (BTC) is currently facing a “significant resistance” level.
- Van de Poppe warned of a bearish divergence in the BTC chart. However, he mentioned that he is not concerned about a BTC correction at the moment.
- At the time of writing, BTC was trading at $36,790, having experienced a 1.16% pullback in the last 24 hours.
Assessing the price targets for Bitcoin, the analyst highlighted three altcoins, discussing the market outlook: Current targets!
Critical Resistance Level and Targets for Bitcoin Price
Renowned crypto trader and analyst Michaël van de Poppe shared in his recent analysis that Bitcoin (BTC) is currently facing a “significant resistance” level. According to the analyst, there is a significant momentum due to the ETF frenzy, and this could lead the market leader to rise to between $40,000 and $45,000.
Van de Poppe warned of a bearish divergence in the BTC chart. However, he mentioned that he is not concerned about a BTC correction at the moment. The analyst added that there is no reason to worry until the cryptocurrency establishes lower lows.
He also noted an apparent upward pattern in the BTC charts, with higher lows and higher highs over the past few weeks. If the leading cryptocurrency rises between $40,000 and $45,000, then he expects a correction to around $39,000 around the April 2023 halving event.
At the time of writing, BTC was trading at $36,790, having experienced a 1.16% pullback in the last 24 hours. Nevertheless, according to the data, BTC’s weekly performance remained positive with a 0.37% increase.
Poppe Highlights These 3 Altcoins
Van de Poppe also mentioned three altcoins he will closely monitor in the short term. The analyst highlighted Chainlink (LINK), Arbitrum (ARB), and SEI. According to him, LINK is currently in good momentum and expects the continuation of this bullish support.
Meanwhile, ARB, according to the analyst, may mimic the price movements of Ethereum (ETH) in the coming days. Therefore, the strengthening of the altcoin leader could lead to an increase in ARB’s price. Regarding SEI, Van de Poppe mentioned that its price has “increased significantly,” but he expects a few corrections.
