Crypto
Bitcoin Analyst Sees Opportunity in Previous High Reversal
Bitcoin's current price of $83,504.87 has caught the attention of analyst Michaël van de Poppe, who believes it lacks sufficient strength to break through resistance.
Van de Poppe views a retest of Bitcoin's previous high as an optimal entry point for traders and calls a flip of the $84,500 area 'phenomenal' for continuation.
The current price movement is taking place within the Bollinger Bands, with BTC testing near its lower support at $82,654.87. The RSI(14) sits neutral at 47.6 and MACD prints a death cross at 675.53.
According to Bitcoin prediction models, there is healthy confluence at the EMA50 support of $82,400.87 before any push toward upper resistance at $87,835.85.