Bitcoin

Top Trader Highlights Key Price Levels for Bitcoin (BTC) As Markets Take Slight Decline

Michaël van de Poppe, a popular crypto analyst and trader, has highlighted key levels for Bitcoin (BTC), the largest digital currency by market capitalization, as the cryptocurrency market takes a slight break from its progressive price performance.

In a recent tweet, Van de Poppe warned his teeming followers that the flagship cryptocurrency is showcasing weakness at current levels and could experience further retracement.

Read Also: Balaji Srinivasan: 3,300% Bitcoin Explosion is Imminent Amid Rush To Grab BTC Parachute

Michaël van de Poppe tweeted, “Bitcoin is currently showing weakness. Broke back in the range, lost one of the crucial levels. Final crucial level is at $27,600. Could take liquidity beneath, but needs a fast recovery. If not, and no break of $28,800, then I suspect we’ll see $26,200.”

At the time of filing this report, BTC is trading at $27,949. It’s barely holding on to the crucial level highlighted by the trader. Over the last 24 hours, the King Crypto has managed to record a relatively 2% price gain, but still down about 9% in the last seven days, according to CoinMarketCap.

Read Also: DataDash Analyst Alerts Bitcoin Traders, Shows a BTC Sell-Off Pattern

Additionally, Van de Poppe himself doesn’t seem to be entirely certain as to why BTC is down as the US Dollar Index (DXY) drops and gold goes up. He also notes less volatility for the traditional financial indicators Nasdaq and the S&P 500 (SPX).

“Nasdaq & SPX barely moving on the day. Yields drop. $DXY consolidates. Gold is up. Yet, Bitcoin is down. Indices are ready to follow? Levels to watch: This zone around $28.2K for Bitcoin and 27K.”


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Top 5 Cryptocurrencies to Invest in Now: October 2024

The blockchain ecosystem continues to evolve, driven by the need for enhanced security, scalability, and…

37 mins ago

Stellar May Soon Head for a Price Bloodbath while Ethereum Foundation Holds Steady; Will BlockDAG’s New 100% Bonus Save the Day?

Prices crashing, gains evaporating—Stellar’s (XLM) price analysis this year paints an alarming picture. Investors have…

53 mins ago

Plus Wallet Strengthens Its Position as a Leading Decentralized Wallet! OKX Grows & ETH Blob Fees Soars

Recent updates in the crypto world showcase notable advancements across platforms and technologies. Ethereum blob…

2 hours ago

Plus Wallet Leads with 15-Minute Token Listings! Apillon Launch & U.S. Government Crypto Wallet Hack Update

Many investors are increasingly turning to cryptocurrency for its substantial profit potential. However, for those…

3 hours ago

Crypto Price Prediction October 2024: Analyst Forecasts 100% Pump For Dogecoin, 10,000% Rally For ETFS, And Only 30% For XRP

As we approach the bull run, the cryptocurrency market is buzzing with predictions and potential.…

3 hours ago

Plus Wallet Gains Popularity as Daily Rewards Demand Increases; Insights on Crypto Staking & Binance Web3 Wallet

The appetite for daily reward programs is reshaping the cryptocurrency landscape. Observations indicate a rise…

4 hours ago