As the price of Bitcoin (BTC) continues to move in a choppy trend, cryptocurrency analyst Michaël van de Poppe has revealed the flagship decentralized finance (DeFi) asset’s potential movements based on holding or failure to hold a specific price zone.
Indeed, the crypto trading expert observed that Bitcoin’s must-hold zone is currently between $26,800 and $27,000 and that failure to remain here would mean that Bitcoin would “probably cascade towards <$26,000 for a potential bullish divergence,” as he explained in a tweet posted on May 16.
Bitcoin price action analysis. Source: Michaël van de Poppe
On the other hand, if Bitcoin manages to hold this level, Van de Poppe is certain that this “would be good” and would need to follow with a flip of $27,500 to trend further upwards.
Bitcoin price analysis
As things stand, Bitcoin is currently changing hands at the price of $27,105, which represents a decline of 1.14% on the day, as well as 1.86% across the previous week, as
We współpracy z: https://finbold.com/bitcoin-must-hold-this-support-to-avoid-crashing-below-26k/
