The big week has arrived, and volatility in cryptocurrencies will be high. We shared significant developments hours ago. However, in addition to all this, the escalating tensions in the Middle East continue to fuel investors’ concerns. So, what are the predictions for BTC on the technical front? What predictions did the popular crypto currency analyst Poppe make for altcoins?
Is It Time to Buy Altcoins?
After the price of Bitcoin dropped to $60,600, there was a slight recovery. The price is at $64,000, but altcoins still maintain losses exceeding 10%. Popular crypto currency analyst Michael Poppe believes that the ongoing decline is an opportunity to buy. And of course, let’s see what he said, knowing that he doesn’t have the ability to see the future.
“Bitcoin is approaching a big week.
Halving week will be here, but;
– Tensions in the Middle East with the opening of normal markets in a few hours.
– Spot ETF approval for $ETH and Bitcoin in Hong Kong.
(All these will affect the prices.) A lot is happening, and I think these drops are the ones you want.”
Bitcoin (BTC) Predictions
Bitcoin has been fluctuating for a long time between $60,000 and $73,777. On April 13th, the price of Bitcoin, which fell below the 50-day simple moving average ($66,743), was significantly affected by Iran’s missiles. BTC briefly lost the $60,775 support but then managed to recover.
It faced a significant risk of a major decline with closures continuing below the 20-day exponential moving average ($67,807). The price could retest the $60,775 level if it remains below this resistance. Alternatively, a break above the 20-day EMA could target the all-time high (ATH) region.
The downward-sloping 20-EMA and the RSI in the negative zone indicate that sellers are in a dominant position. A deeper correction could lead to testing the 54,298 dollar level, which is the 61.8% Fibonacci support.
In a bullish scenario, the price will continue to fluctuate within the range mentioned at the beginning. Surpassing $73,777 could test the $80,000 and $84,000 levels during the halving period. As of the writing of this article, Bitcoin is finding buyers at $64,200. The DXY is in the 106 region, and the strength of sales in Spot Bitcoin ETFs after the US market opening will be closely monitored.
