Crypto analyst Michaël van de Poppe reveals Bitcoin resistance levels
A notable technical assessment of Bitcoin has emerged in the cryptocurrency markets. Crypto analyst Michaël van de Poppe shared his view on current Bitcoin price movements and possible future scenarios in a post on the social media platform X.
According to van de Poppe, Bitcoin continues to consolidate around the $75,000 range. However, one of the most important indicators during this process is that funding rates remain negative. In his view, this suggests an excessive buildup of short positions in the market.
On the other hand, Bitcoin has faced strong resistance at the $76,000 level and experienced a short-term correction in that range. Despite this, rising open interest data indicates that a significant portion of investors has opened positions expecting a price decline. This situation also increases the likelihood of a potential short squeeze in case of an upward breakout.
Van de Poppe predicts that a new uptrend could begin if Bitcoin decisively breaks above the $76,000 level. In that scenario, the next major resistance zone is seen between $85,000 and $88,000.
Market experts note that current data points to a possible increase in volatility in the short term and emphasize that breaking key resistance levels will be crucial in determining the direction of the trend.
See also: "Experienced analyst outlines three Bitcoin (BTC) price scenarios: all target $80,000!"
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