- Michael van de Poppe tweeted his technical analysis for BTC yesterday.
- The trader shared that he will be looking to enter a long position when BTC’s price reaches $21k.
- BTC’s price may begin rallying if inflation rates begin to drop.
Renowned crypto trader, Michael van de Poppe, tweeted his analysis for the crypto market leader, Bitcoin (BTC), in a tweet yesterday. In the tweet was a link to a Youtube video wherein the analyst shared his target levels for BTC’s price following the SEC’s crackdown on staking on centralized exchanges.
According to the trader, BTC’s daily chart shows that Bitcoin is currently in a corrective period. He did, however, state that this correction may be short-lived. Michael van de Poppe shared that BTC’s price hitting $21k will be a good entry for a long position, but did warn that the possibility of BTC’s price dropping to $19.7k is still present.
The trader also shared that he is bullish on the crypto market given that inflation rates may drop soon. Should this happen, BTC’s price will enter into a consolidation period for the coming weeks before rallying.
