Cryptocurrency analyst Michaël Van De Poppe has released a market rating after Bitcoin surpassed the $108,000 level today. Van de Poppe has noted Bitcoin’s recent bullish move and warned investors about key levels.
“I have prepared this chart for Bitcoin, a focused expression of recent rises and an important level of attention,” Van de Poppe said in his analysis. The damage at the $106,500 level caused the price to quickly reach $108,000, causing a retest with quick purchases from this level.
A chart showing the rise in BTC prices today.
According to Poppe, the market currently has momentum and it is important to continue. Analysts said protecting the $106,000 level is especially important, and if this level drops, losing $105,500 could result in a clearing of the advantages and a new wave of decline.
However, analysts believe that if the market remains stable, the rally will continue. In this scenario, if the $108,900 level is violated, Bitcoin will gain new momentum towards its all-time high (ATH).
*This is not investment advice.
