Crypto expert Michael van de Poppe The indicator highlighted by has suggested that Bitcoin may make a significant bounce off its current level. The flagship cryptocurrency’s price has risen by a significant amount. recent decline below $60,000.
BTC’s CME Gap is Closed
Van de Poppe is revealed on X (previously Twitter) post You can also find out more about us here. Bitcoin’s CME gap Has closed, and that now is the time for crypto to experience a bounce-back from its current level. He shared a chart. Bitcoin The market will first reclaim support of $60,000 before it moves further up.
Other Readings Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%
Crypto analyst Mkybull Crypto The CME has also filled the gap. The analyst, like Van de Poppe predicted, expects Bitcoin will reclaim its $60,000 range. It may also continue to rise. Mikybull Crypto has revealed that Bitcoin completed the inverse-head-and-shoulder chart pattern. He said that the flagship crypto would reach $70,000 as a minimum target if it broke out successfully above $62,000.
![BTC price](https://fxruhanahmed.com/2/wp-content/uploads/2024/07/1720119132_667_Bitcoin-Closes-CME-Gap-Expert-Predicts-What-Happens-Next.png)
Mikybull crypto also stated that the Moving Average Convergence/Divergence A bullish cross for Bitcoin can be predicted by the (MACD). The crypto analyst noted that it indicates the strength of the cryptocurrency and its potential to grow. Crypto analyst also isn’t deterred by Bitcoins recent performance as he believes that it will be a parabolic rise soon.
![Bitcoin price 3](https://fxruhanahmed.com/2/wp-content/uploads/2024/07/1720119132_674_Bitcoin-Closes-CME-Gap-Expert-Predicts-What-Happens-Next.png)
Contrary to popular belief, the claimant claimed that the cycle top This is a placeholder page until the new version is released. “final shakeout” Before the top of the market is reached. According to the chart, he believes that Bitcoin can still reach over $100,000. The analyst was previously mentioned Bitcoin’s “target price” for this year is between $138,000 to $150,000 bull run.“
![BTC price](https://fxruhanahmed.com/2/wp-content/uploads/2024/07/1720119132_545_Bitcoin-Closes-CME-Gap-Expert-Predicts-What-Happens-Next.png)
What’s Next for Bitcoin?
Crypto community has become more bearish as Bitcoin is unable to stay above $60.000. The flagship cryptocurrency could be headed for a major decline. drop to the $40,000 range Soon enough. CrediBULL, a crypto analyst claimed You can also find out more about us here. “there is still a lot that must be done” Bitcoin’s price dropping to that level is highly unlikely.
Read Related Articles
According to him, Bitcoin’s current price will not likely last forever. According to CrediBULL CryptoBitcoin may wick $58,000, make a new low higher than $56,000 and reverse direction from that point. Further, he raised the prospect of Bitcoin falling into the $53,000 demand area If $56,000 is breached.
Also, he mentioned that $40,000 may be possible if Bitcoin does not hold above $53,000. But he thinks that the scenario where Bitcoin drops to $40,000 will not happen. “the least likely to actually play out.” The man said that it was not something to be “heavy-weighted at”. this time.”
Featured image was created with Dall.E chart, from Tradingview.com
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com