Crypto Analyst Michaël van de Poppe Anticipates a Highly Positive Q4 2023 for Bitcoin – Unveils Targets
Despite recent challenges, crypto trader Michaël van de Poppe remains optimistic about Bitcoin (BTC) in the upcoming months.
In a new YouTube video published, popular cryptocurrency analyst and trader Michaël van de Poppe told his 162,000 subscribers that Bitcoin is nearing price levels that could offer good buying opportunities.
According to van de Poppe's analysis, Bitcoin's current consolidation pattern suggests a retest of support around $25,600 to $25,800 is likely. He believes this potential retest zone would be an optimal area to start accumulating Bitcoin.
"If we're not going to get that, the flip of $26,500 – that is going to be the area where I think I want to activate my positions as well. And then we can start targeting $28,000, and then we can also start targeting higher numbers, $30,000+ or even more in the projection of Q4 that is going to be very positive overall," van de Poppe stated.
The trader compared Bitcoin's current price action to a similarly consolidating period witnessed in 2015 prior to the previous Bitcoin halving event in 2016. As long as Bitcoin holds above the key 200-week exponential moving average, van de Poppe remains bullish on continuation to the upside over the medium-term.
At the time of writing, Bitcoin is trading around $26,410 according to CoinMarketCap data.
Sep 28, 2023