Crypto Analyst Van de Poppe Predicts Six Digit Figure for Bitcoin

Crypto Analyst Van de Poppe Predicts Six Digit Figure for Bitcoin
  • Bitcoin’s current support is between $49,800 and $51,000.
  • Bitcoin price today is $55,190.35 USD.

A major downtrend line and the September high of $52.9k were broken this week. As a result, it fell under the technical and on-chain resistance zone of $55k to $58k.

A consolidation or small pullback is needed before the next big ascent. BTC is now trading above the key September high of $52.9k. Bitcoin must close above the bear trap weekly to continue the breakthrough.

BTC/USDT: Source: TradingView

A weekly closing over $52.9k increases the likelihood of retesting the $55k-$58k resistance zone. Resistance weakens when it is tested, increasing the probability of a market breach if enough buyers join. According to cryptocurrency expert Michael van de Poppe, Bitcoin (BTC) will hit six-figure in the current bullish cycle.

Van de Poppe tweeted:

“So We Get Some Sideways Action, Get To Watch The All-Time High… And Then We Probably Assume That We’re Going To Get Towards $250,000 Or Higher.”

Correction Might Pull Back the Prices

According to the crypto expert, Bitcoin’s current support is between $49,800 and $51,000, after breaking over $55,000 for the first time since May.

Van de Poppe predicts a Bitcoin decline to between $40,000 and $44,000 in case of a correction. On the contrary, Van de Poppe expects Bitcoin to range before breaking the current high of $64,804.

The cryptocurrency expert expects Bitcoin will follow a similar trend, rising from approximately $15,000 to just over $63,000 before perhaps hitting a new all-time high of at least $250,000. According to CoinMarketCap, Bitcoin price today is $55,190.35 USD with a 24-hour trading volume of $35,531,840,615 USD.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.