Bitcoin, the world's largest cryptocurrency, has reached new highs, surpassing the long-awaited $30,000.
However, BTC fell to the level of $ 27,100 with the decline it experienced last week.
After this decline in BTC, investors are now waiting for a rise, while popular analyst Michael van de Poppe shared his Bitcoin expectations.
Evaluating the performance of BTC on his Twitter account, Poppe wrote that Bitcoin rejected the $ 27,800 level.
Stating that the funding started to turn negative while Bitcoin rejected the $ 27,800 level, the analyst stated that Bitcoin will soon rise.
The analyst, who expects a rapid recovery to 29,200 in Bitcoin, made the following statements:
Funding is starting to turn negative as Bitcoin clearly rejects the $27,800 level on the chart.
That means we're going to have a jump soon, but from where, from what level?
I expect bullish divergences to form in the $26,500 – $27,000 region (Monday bearish day) and then recover to $29,200."
#Bitcoin clearly rejects the level here, while funding starts to become negative.
Meaning that we'll be having a bounce play soon, but from where?
I'm expecting a creation of bullish divergences in $26,500-27,000 area (Monday dump day) and then recovery to $29,200. pic.twitter.com/dqj33HPbnz
— Michaël van de Poppe (@CryptoMichNL) April 24, 2023
*Not investment advice.
