Bitcoin managed to maintain its current level and is getting stronger. With the markets turning green again, analisdollarser can’t ignore the bull sign. At the time of writing, BTC, which was moving horizontally on the 1-hour chart, started trading at $ 36,267, rising 14.2% and 4.2% on the 7-day and 30-day charts.
Bitcoin lights its first green candle in weeks
Some traders did not hesitate to explain their bullish expectations as Bitcoin lit its first green candle on the weekly chart. According to market data, the leading cryptocurrency has been facing huge selling pressure for the past 2 months. The peak of the decline is $64,000.
However, although the short-term outlook is bullish, some experts are concerned that the downtrend will extend. In this regard, analyst DonAlt, known for his holding Bitcoin predictions, correctly predicted $ 6,100 on March 28. The analyst also correctly predicted Bitcoin’s 44% rally and peak on February 12, when BTC surged above $10,300. Currently, DonAlt references Bitcoin’s monthly candle to find potential support areas.
Successful analyst DonAlt also predicts a potential collapse
DonAlt also believes there are indications of a potential collapse in 2021 that is greater than anything seen so far. Looking at BTC’s October 2020 monthly candle, a possible “nuclear collapse” could result in a visit to the $14,000 support zone. The analyst adds the following to his explanations on the subject:
If the market crashes, I’m in. I have reasonable crash claims around 14,000 BTC and $800 ETH. My smaller claims are around $20,000 BTC and $1400 ETH. I’m not sure I’ll be buying at these levels, but these are the only areas that are a little close to the fiadollars that are good enough to trade.
Short term targets and support zones for Bitcoin
Analyst and trader Michael van de Poppe has classified Bitcoin’s recent price action as a strong move above resistance levels. The analyst thinks that if the price of BTC manages to stay above these levels, his next target will be around $38,000. Additionally, they emphasize that close attention should be paid to the $35,000 region.
As analyst Van de Poppe noted, BTC’s next move is critical. At the same time, a strong upward momentum is a “critical move,” according to the analyst. If a breakout occurs around these levels and the bulls have enough strength, the price could rally to the $40,000 to $42,000 area. Poppe also added:
Funding remains negative, meaning the majority is still willing to short the markets. From the market sentiment it is understandable that FOMO could be fueled further at a later stage, it is still on the ground. The higher we go, the more FOMO we will see in Bitcoin.
Van de Poppe: $30,000 can be retested
In addition, the analyst also states that for Bitcoin to regain its previous highs, it needs to accelerate its movements in the current region. In the past weeks, Bitcoin has been rejected from the $40,000 band. Therefore, Van de Poppe does not find the retesting of $30,000 pointless. The analyst adds the following to his explanations on the subject:
Now, I would like to see the current level be maintained so I can move up to $38,000. My preference is for it to just keep going up without retesting the supports. Overall, the signals are good in the markets.
Finally, for Ethereum, Cardano, XRP and other altcoin projects, the outlook is less optimistic in the short term. Bitcoin dominance is starting to gain momentum and could get stronger as the market recovers.
Here are Michael van de Poppe’s successful BTC and altcoin predictions
Cryptocoin. com, professional analyst Michael van de Poppe correctly predicted the altcoin season in the first quarter of 2020. In addition, the successful analyst announced the declines of Bitcoin in the past saadollarser. In addition to these, the analyst has also achieved a high success rate in crypto money predictions in the past months.
Michael van de Poppe stated that he expected a significant market correction in February and predicted the market crash on February 22. The analyst also correctly predicted the decline of Bitcoin to $ 50,000 in March. Apart from these, the master analyst has other successful cryptocurrency predictions. For this reason, investors follow the analyst’s predictions carefully.
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