A widely followed crypto analyst is imagining several different scenarios for Bitcoin (BTC) after the king crypto fell 4.5% in a week.
Crypto trader Michaël van de Poppe tells his 660,800 Twitter followers that BTC is likely looking to go lower before rallying.
“Probably tons of volatility and still very likely that we’re looking at a case of a sweep down for Bitcoin.
Looking at reclaiming $30,200-30,400 if we want to go up.”
Yesterday, the analyst made a similar prediction about BTC sweeping lows before rallying.
“Not breaking the crucial area, seems like we’re going to have another sweep of the low for Bitcoin.”
According to Van de Poppe, the plan is still for BTC to sweep to around the $28,500 level before rebounding, according to his latest charts.
“The plan, if Bitcoin doesn’t reclaim $30,300.”
Alternatively, the analyst can imagine a scenario in which BTC has already reached its low. In that case, according to Van de Poppe, traders with plans to purchase BTC at $29,000 are simply going to be left behind.
“Imagine Bitcoin breaking above $30,400 and leaving all the $29,000 buyers behind.”
BTC is worth $29,844 at time of writing, down 0.5% on the last day.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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