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Founder of MN Trading, Михаэль ван де Поппе (Michael van de Poppe), stated that following the decline in February, Bitcoin has been consistently establishing higher lows, indicating a strengthening market structure.
According to his assessment, the cryptocurrency market retains the potential for further growth. While risks persist, the likelihood of a significant downturn has diminished.
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“It seems we are on the verge of further strengthening positions. However, this does not imply that all risks have been eliminated. If the market reaches these levels, the accumulation of liquidity around the higher lows could trigger a substantial movement,” he noted.
Should the current levels be maintained, the analyst suggested a potential rise for Bitcoin within the range of $77,000–80,000. He emphasized that the key factor is the price’s ability to hold above support levels, which could create a more stable structure and attract interest from major investors.
At the same time, van de Poppe did not rule out short-term volatility. Even with an upward scenario, the price may experience corrections, testing liquidity zones before continuing its ascent.
Previously, analysts at Bitfinex indicated that Bitcoin could accelerate its growth if it breaks through the $72,000 level, as there is a lack of strong resistance from sellers up to $82,000.
