having a bad year 2022 Bitcoin (BTC) and cryptocurrencies Analysts say that there is a bottom signal and that the bulls will begin to dominate the market instead of the bears.
One of these analysts is the popular cryptocurrency analyst. Michael van de Poppe it happened.
In the video he shared on YouTube yesterday, he argued that despite the current negative atmosphere in the market, Bitcoin could double its value next year.
Stating that Bitcoin is currently trading in a wide range with the $18,600 resistance and the $12,300 support level, Poppe said that BTC bulls urgently need to eliminate the $18,600 resistance of BTC to defeat the bears.
“Any level below $18,600 can be classified as a continuation of the downtrend.
If we can’t get above $18,600, we could go to $12,300. However, the number of people focusing on this is a bit high right now, which means we’re probably not going to get there.”
The famous analyst, who stated that investors who evaluate Bitcoin’s volatility in the narrow area with the hope of short-term gains and want to take the profit difference, can switch to a long-term direction with the hope of starting the bull, continued his words as follows:
“If we can break $20,600, we will have broken the trend because we are retracing these $20,000 highs. And a short stop above this high will suffice.
This will most likely start a run towards $29,200. After $29,200 it will probably continue to move towards $38,500 because I think we’re just going to get liquidity here.”
*Not investment advice.
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