Bitcoin Consolidation Continues as Van de Poppe Sees No Deep Correction

The price of Bitcoin has retreated from its recent high of $80,530 to around $79,000 at press time. Amidst this consolidation, analyst Michael van de Poppe remains bullish on the long-term trajectory of BTC's price.

In a recent X post, van de Poppe stated that he does not expect any 'deep' correction in Bitcoin's price. He added that if BTC drops below $74,000, it would present a buying opportunity for traders.

The analyst highlighted the importance of the $82,850 resistance level, noting that breaching this could propel Bitcoin towards further gains. Conversely, falling below $75,545 or $73,674 support levels may trigger a drop to $71k or about $70k next.