© Reuters. Van de Poppe’s Entry Target Triggered by Bitcoin’s Surge
- Michael van de Poppe has shared that BTC’s upside target will be $23.7K.
- The trader stated that a break above $21.3K is essential.
- Bitcoin is currently trading at $22,436.66, activating the trader’s long entry.
This morning, a prominent crypto trader, Michael van de Poppe, tweeted that he is not engaging in any trades this weekend. Van de Poppe further mentioned that there are multiple opportunities for continuation trading on Bitcoin’s chart.
The trader also suggested that the recent ‘QE’ and ‘Bailout’ for banks, along with the possibility of a positive CPI report and no further interest rate hikes, may prove to be beneficial for the price of Bitcoin. Van de Poppe concluded that a break above $21.3K is essential, and if it is achieved, he will enter a long position with an upside target of $23.7K.
At the time of writing, Bitcoin has increased by 9.21% in the last 24 hours, according to CoinMarketCap. This surge in the price of Bitcoin has triggered Van de Poppe’s long entry as the crypto is currently trading at $22,436.66. In addition, Bitcoin has strengthened its position against Ethereum, the crypto leader, by 0.12%.
Bitcoin has managed to make its way onto CoinMarketCap’s trending list and is currently ranked 6th on the list. Over the last 30 days, the price of Bitcoin has risen by 3.42%, and it has also managed to flip its weekly performance into the green at +0.03%.
The market cap of Bitcoin currently stands at $433,107,938,357, and its dominance in the crypto market has increased by 0.47% in the last 24 hours, taking it to 42.27% at press time.
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