The leading cryptocurrency, Bitcoin, fell below $61,000 with a sharp decline from $73,000 and then entered a consolidation phase.
While BTC generally moved horizontally during this process, a positive assessment came from experienced analyst Michael van de Poppe.
Poppe, who based his analysis on the weekly candle formation, said that he expected Bitcoin to test above $ 70,000 this week.
“Looking at the weekly candles across the markets, it looks like most altcoins have hit a relative bottom.
“With great strength in altcoin markets, I think Bitcoin is likely to test $70,000 next week.”
Poppe then pointed out that Bitcoin was still in a consolidation phase and said that BTC had a chance to make another test at its all-time high before the halving.
Looking at the weekly candles across the markets, it seems like we're relatively bottoming out for most of the #Altcoins.
I think it's also likely Bitcoin tests $70K upcoming week, including a lot of strength on the altcoin markets.
— Michaël van de Poppe (@CryptoMichNL) March 24, 2024
*This is not investment advice.
