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As uncertainties continue in the Bitcoin
How High Will Bitcoin Rise?
Famous crypto trader Michael van de Poppe tweeted his latest technical analysis for Bitcoin (BTC) this morning. According to the tweet, the critical price level of $27,900 for BTC caused the market leader’s price to rise to $28,700 overnight.
#Bitcoin follows the path.
Crucial area at $27,900 held and breakout overnight upwards to $28,700.
Consolidation makes it likely that we'll be continuing towards $30,000. pic.twitter.com/0KjNN3lBfX
— Michaël van de Poppe (@CryptoMichNL) April 5, 2023
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Van de Poppe ended his post by sharing that it is likely that BTC will continue to rise to $30,000 in the coming days. In a video analysis uploaded by Van de Poppe yesterday, he stated that his upward target for BTC is between $40,000 and $45,000.
In his analysis, Van de Poppe shared that he believes the US Dollar Index will experience a strong correction in the coming weeks, which will result in a rise for higher-risk assets such as crypto and BTC. He also noted that BTC will have a few months of recovery before experiencing a correction and continuing its rally.
At the time of writing, the BTC price is trading at around $28,050. Bitcoin has seen a -0.87% decrease in the last 24 hours. The second-largest cryptocurrency, Ethereum price, continues to trade above $1,900 with a 4.2% increase.