According to analyst Michaël van de Poppe, traders are sleeping on “huge opportunities” for bitcoin and crypto markets
A popular crypto analyst is tracking where Bitcoin (BTC) could go next after its explosive surge above $19,000.
Crypto trader Michaël van de Poppe tells his 644,700 Twitter followers that it is still unclear how long BTC’s current rally will last.
“All liquidity has gone above the highs and that is why we have accelerated.
The question is will we continue to rally towards $20k-$21k or will we settle down for bitcoin.”
Source: Michael van de Poppe/Twitter
BTC is trading at $19,333 at the time of writing, up 15% over the past week.
Although BTC is still 72% below its all-time highs set in November 2021, Van de Poppe is still observing what he calls “bull euphoria” on social media.
“But it’s funny if you look at social media, it’s bull euphoria.
If you look at the chart, you have to zoom out a lot to see the entire chart.
Bitcoin is still -$50,000 from 15 months ago.”
Despite the upbeat sentiment, the crypto trader still believes the majority of the world is bearish on BTC. However, he also thinks this presents a golden opportunity for traders.
“Bitcoin could be hated by the majority and the majority could expect new lows and a sustained bear market.
But that offers a huge opportunity, don’t you think?”
For now, Van de Poppe expects Bitcoin to make fresh local highs before a correction.
“Bitcoin will likely want to pull out the highs soon and correct thereafter.
Ranges I would personally watch for shorts are between $19,100 and $19,400.
Building longs around $18,200 is not a bad option, anything below is cheap.”
Check the price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check the latest headlines
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Halfway
Featured image: Shutterstock/Andy Chipus
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.