The post Analyst Micheal van de Poppe Maps the Next Price Action for Bitcoin & Altcoins appeared first on Coinpedia Fintech News
The markets are slowly heating up with a slow transition in the sentiments. Bitcoin is slowly moving upwards and the altcoins are waking up from a deep sleep. The recent price action lifted the markets significantly up beyond the crucial levels around the 200-week MA & EMA. Further, the market cap continues to form higher highs and lows which suggest a potential upswing but also carries the possibility of a new correction.
Well-known crypto analyst, Micheal van de Poppe, marks the next trade set-up for Bitcoin and top altcoins like Polygon (MATIC), Ripple (XRP) & Litecoin (LTC)
Bitcoin (BTC)
Bitcoin in the short term appears to have stuck within a narrow range due to dropped volume and volatility. However, in the long term, the token continues to flash a bullish signal as the price appears to be at the foothill of a massive explosion.
“Massive signal on the weekly chart for Bitcoin.
The 200-week MA and EMA both held.
Additionally, another higher low was made, so we’ll be looking at a higher high in the coming period.
Raw lines, but expecting us to rally substantially before a new correction,”
Polygon (MATIC)
Polygon’s price, after facing rejection from $1.5, has been maintaining a steep declining trend. However, the bulls have currently halted the bearish trend and managed to maintain a horizontal trade. Besides, technicals suggest the price is closer to a bullish breakout.
“This one looks decent.
Massive cascade to $0.50 resulting into a chain reaction of liquidation on the long side.
Those have all been taken
Likely that we’ll be breaking up, needs to flip $0.75.
Looking to long a retest around $0.55 or flip $0.75,”
Ripple (XRP)
Even though the price is facing significant bearish action, the trend continues to ascend, heading toward the target set at $0.55. The token is displaying enough strength and hence is believed to maintain a healthy upswing ahead.
“I’m interested in XRP if we flip the level of $0.5025, then we can start having continuation towards the highs,”
Litecoin (LTC)
The Litecoin price has been trading within an ascending channel for a long time. The trend remained elevated, displaying significant strength ahead of the much anticipated halving event. The price is assumed to be hovering within a pre-halving phase and a massive upswing is assumed to be triggered soon after the event.
“Great weekly candle, through which we’ll most likely continue running towards $102.
After that, slight correction before continuation towards $180 if a breakout above those recent highs is happening,”
