Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto\u2019s recent decline below $60,000.\u00a0 BTC’s CME Gap Has Closed Van de Poppe revealed in an X (formerly Twitter) post that Bitcoin\u2019s CME gap has closed and added that it is time for the crypto token to enjoy a relief bounce from its current price level. From the chart he shared, Bitcoin will reclaim $60,000 as support before moving further to the upside.\u00a0 Related Reading: Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170% Crypto analyst Mkybull Crypto also confirmed that the CME gap has been filled. Like Van de Poppe\u2019s prediction, the analyst expects Bitcoin to reclaim the $60,000 range and possibly continue its upward trend. Mikybull Crypto revealed that Bitcoin has completed its inverse head-and-shoulder pattern on the daily chart. He predicted that the flagship crypto could reach a minimum breakout target of $70,000 when it successfully breaks out above $62,000.\u00a0 Mikybull Crypto also mentioned that the Moving Average Convergence\/Divergence (MACD) indicator indicates that a bullish cross is imminent for Bitcoin. He noted that this indicates strength for the flagship crypto and that its price is poised to rise. The crypto analyst is also undeterred by Bitcoin\u2019s recent underperformance as he is confident that a parabolic rally will soon enough.\u00a0 Contrary to what some might think, he claimed that the cycle top isn\u2019t in yet and that this is simply a \u201cfinal shakeout\u201d before the market top is in. Based on the chart he shared, he predicts that Bitcoin will still climb above $100,000 and possibly reach $130,000. The analyst had previously mentioned between $138,000 and $150,000 as \u201coptimal targets for Bitcoin in this bull run.\u201d What Next For Bitcoin? With Bitcoin failing to hold above $60,000, the bearish calls are becoming louder in the crypto community. Some predict that the flagship crypto could drop to the $40,000 range soon enough. Crypto analyst CrediBULL Crypto claimed that \u201cthere is still a lot that must be done\u201d for Bitcoin to drop that range, suggesting that it is unlikely to happen anytime soon.\u00a0 Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments He also provided insights into what will likely happen to Bitcoin at its current price level. According to CrediBULL Crypto, there is a chance that Bitcoin will wick the $58,000 low, hold a higher low above the $56,000 low, and then reverse from there. He further raised the possibility of Bitcoin dropping into the $53,000 demand area if the $56,000 lows are breached.\u00a0 Additionally, the crypto analyst mentioned that $40,000 could become possible if Bitcoin fails to hold above $53,000. However, he believes this scenario of Bitcoin dropping to $40,000 is \u201cthe least likely to actually play out.\u201d He remarked that this isn\u2019t something anyone should be placing \u201cheavy weight on at this time.\u201d Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,90232,14690,91847],"class_list":["post-627857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-expert"],"acf":[],"yoast_head":"\n
Bitcoin Closes CME Gap, Expert Predicts What Happens Next<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n