Cryptocurrency expert Michaël van de Poppe believes Bitcoin is at a critical juncture, facing a choice between a surge to new highs or a significant sell-off.
Bitcoin’s Key Support
According to van de Poppe, Bitcoin must hold its current support level of $60,500 to maintain its momentum towards all-time highs. If this support breaks, he predicts a drop to $50,000-$55,000.
Altcoin Market Outlook
Van de Poppe also monitors the TOTAL2 chart, which tracks the market capitalization of altcoins (excluding Bitcoin and stablecoins). He believes TOTAL2 is poised for a potential uptrend within the next two weeks.
Sentiment vs. Charts
Despite bearish sentiment towards altcoins, van de Poppe notes that charts suggest a possible trend reversal. He highlights the formation of double bottoms in many altcoins, indicating an increased likelihood of a rally.
Disclaimer
Van de Poppe’s opinions are not investment advice, and investors should conduct thorough research before making any high-risk investments in cryptocurrencies.
