Popular Crypto Analyst Breaks Down Bitcoin (BTC) and Ethereum (ETH) After a Week of Positive Price Action

A broadly adopted crypto dealer warns that king crypto Bitcoin (BTC) continues to be at resistance regardless of gaining 9% over the past seven days.

Crypto analyst Michaël van de Poppe tells his 637,600 Twitter followers that BTC was rejected on the $20,800 value zone.

“Bitcoin nonetheless inside resistance right here, because it rejects round $20,800 and [low-time frame] additionally rejects at $20,750.

Not favoring day buying and selling longs right here, I’m technically trying to find the situation given within the chart, space round $19,900-$20,200.”

Supply: CryptoMichNL/Twitter

Updating his followers early Friday morning, Van de Poppe says he thinks BTC is in a great value vary for lengthy trades if the most important crypto by market cap can discover assist round $19,600-$19,900.

“Bitcoin miners are capitulating, as hash charges rally to [all-time highs] 

In the meantime; from a technical standpoint, BTC appears to succeed in lengthy territories right here.

Sweeping the low and will maintain round $19,900. 

If that doesn’t grant assist, then I’m $19,600.”

Supply: CryptoMichNL/Twitter

Bitcoin is buying and selling for $20,620 at time of writing, down 0.6% on the day regardless of being up for the week.

Van de Poppe additionally takes a second to analyze the main sensible contract platform and second-largest crypto by market cap, Ethereum (ETH). With ETH at present buying and selling for $1,554, the crypto dealer senses resistance at $1,600.

“Ethereum nonetheless going through resistance round $1,600-1,650 right here.

May query whether or not we’ll proceed the rally, and we clearly must crack that resistance, after which face $1,750.

Brief time period, I’d like to have entries round $1,400-1,450.”

Supply: CryptoMichNL/Twitter

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