Cryptocurrency analyst Michaël van de Poppe, in his latest post Bitcoin (BTC) He gave his opinion on the price.
As it is known, after the inflation data in the USA came lower than expected, there was a small rally in the BTC price. At the time of this writing, the world’s largest crypto currency is trading at $ 17,729 and has gained about 4% in the last 24 hours.
Michaël van de Poppe: “If $17,800 Resistance Level is Overshot, $18,200 Level Can Be Tested”
Michaël van de Poppe, an analyst with more than 600,000 followers, said in a recent message that the resistance level for Bitcoin price to break is $17,800.
According to the analyst, if this level is broken, the $ 18,200 level can be tested. On the downside, the $17,400 and $17,100 levels could act as support, according to van de Poppe.
Van de Poppe also shared a graphic displaying these views on his Twitter account.
The playing field is relatively simple for #Bitcoin.
We want to break the resistance at $17.8K here.
If that breaks, it will probably test around $18.2K taking place.
Support levels for potential longs; $17.1K and $17.4K. pic.twitter.com/RrS1affIvN
— Michaël van de Poppe (@CryptoMichNL) December 13, 2022
According to the analyst, the BTC price hitting the $18,000 level today and the Ethereum price rising above $1,300 was a good sign before today’s FED decision.
Today, the Fed will announce its interest rate decision. The top US institution is expected to increase by 50 basis points. The inflation figure in the USA was announced today and was announced as 7.1%, lower than expected. On top of that, many altcoins in the crypto money market also experienced a small rally with BTC.
*Not investment advice.
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