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July 21, 2023

With Bitcoin Stumbling, Crypto Trader Updates ‘Plan’ As He Imagines Multiple Scenarios for BTC

By Daily Hodl Staff

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.

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“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.”

Source: Michaël van de Poppe/Twitter

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.”

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Source: Michaël van de Poppe/Twitter

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.”

Source: Michaël van de Poppe/Twitter

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.

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