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

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

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Widely supported cryptocurrency traders are using the king cryptocurrency Bitcoin (Bitcoin) remains a resistance despite rising 9% over the past seven days.

Crypto analyst Michael van de Poppe To tell His 637,600 Twitter followers learned that BTC was rejected at the $20,800 price point.

“Bitcoin is still within resistance here as it is rejecting around $20,800. [low-time frame] Also, reject at $20,750.

I don’t like day trading longs here, so technically I’m looking for the scenario shown on the chart. The area around $19,900 to $20,200. ”

Source: CryptoMichNL/Twitter

Updating his followers early Friday morning, Van de Poppe said: I think If the largest crypto by market cap can find support between $19,600 and $19,900, BTC is in a good price range for long trades.

“Bitcoin miners have a hash rate of [all-time highs]

In the meantime; from a technical standpoint, BTC appears to reach long territory here.

It should clear the lows and hold around $19,900.

If you still don’t get support, you’re looking at $19,600. ”

Source: CryptoMichNL/Twitter

Bitcoin is trading at $20,620 at the time of writing, down 0.6% on the day after a week of gains.

Van de Poppe is also a leading smart contract platform and the second largest crypto by market capitalization, Ethereum (ethereum). Crypto traders as ETH is currently trading at $1,554 feelings Resistance at $1,600.

“Ethereum is still facing resistance at $1,600 to $1,650 here.

While one might question whether the uptrend will continue, it clearly needs to break that resistance and then face $1,750.

In the short term, we are looking for entries in the $1,400-1,450 range. ”

Source: CryptoMichNL/Twitter

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