Van de Poppe Sees Low Sweep Risk as Bitcoin Range Bound

Bitcoin's price action has been stuck in a range after rejecting its recent highs, increasing the likelihood of a move towards the lows, according to Michaël van de Poppe.

The 4-hour chart shows a bullish trend with the price above both the EMA50 and EMA200 moving averages. The MACD is also showing a golden cross at 74.96, but the RSI sits at a neutral level of 53.13.

This confluence of indicators points to short-term volatility exhaustion and suggests that Bitcoin may experience a healthy retracement towards the $77559.52 EMA50 support before continuing its upward trajectory.