Trader Sets His Long Entry Target for Bitcoin (BTC) at $21K

  • 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.

See the Original On CoinEdition

Bookmark (0)
ClosePlease loginn

Related Posts

A sincere thank you to our valuable sponsors: CoinDesk, Nexo and 1inch

A sincere thank you to our valuable sponsors: CoinDesk, Nexo and 1inch

Discover the cutting-edge services of CoinDesk and Nexo, the leading names in crypto and blockchain, and unlock the full potential of your digital assets.

Bookmark (0)
ClosePlease loginn
U.S. government sold over 9k BTC for $215.7M on March 14

U.S. government sold over 9k BTC for $215.7M on March 14

The US government said it plans to liquidate over 40,000 Bitcoin in four batches during this calendar year.

Bookmark (0)
ClosePlease loginn
Justin Sun’s Grenada ambassadorship to WTO ends

Justin Sun’s Grenada ambassadorship to WTO ends

Grenada’s local media reported that Justin Sun had been recalled after the political party that appointed him lost elections in June 2022.

Bookmark (0)
ClosePlease loginn
More than 50% of Bitcoin mining uses renewable energy

More than 50% of Bitcoin mining uses renewable energy

Almost a quarter of all Bitcoin miners use water to power their setups, while wind and nuclear are the second and third biggest contributors.

Bookmark (0)
ClosePlease loginn
Bittrex to halt US operations by end of April

Bittrex to halt US operations by end of April

The cryptocurrency exchange will only serve global customers going forward.

Bookmark (0)
ClosePlease loginn
Binance.US transitioning to new bank providers; briefly affecting deposits, withdrawals

Binance.US transitioning to new bank providers; briefly affecting deposits, withdrawals

Many transfer methods, including Signature ACH transfers, are affected.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *