Michael Predicts BTC to Hit $25K as Lengthy as It Stays Above $22K

• Michael van de Poppe tweeted that the markets are currently in an upside correction.
• The trader said that BTC’s ticket will upward thrust to $25k all once more if it's ready to protect the $22k stage.
• In linked data, the market leader’s ticket has dropped 2.10% over the final 24 hours.

Popular crypto trader and analyst, Michael van de Poppe tweeted on the present time that “the markets are level-headed having a common correction inner an uptrend”. In the tweet, van de Poppe added that as lengthy because the price of Bitcoin (BTC) stays above $22K, then it will more than seemingly be beautiful to demand the market leader’s ticket to kind out $25K all once more within the impending weeks.

BTC’s ticket has fallen 2.10% over the final 24 hours essentially based on CoinMarketCap. As a consequence, the crypto’s ticket stands at $23,886.03 at press time. Despite the 24-hour drop, the market leader’s weekly efficiency stays within the fairway at +0.56%.

4-hour chart for BTC/USDT (Source: TradingView)

Taking a check out on the 4-hour chart for BTC/USDT it will more than seemingly be viewed that the price of BTC has dropped below the 9 and 20 EMA lines on the chart. As a consequence, BTC’s ticket has entered into a transient bearish cycle.

The 9 EMA line on the 4-hour chart is positioned bearishly below the 20 EMA line on the 4-hour chart. As well to this, the RSI line on the 4-hour chart is positioned below the RSI SMA line on the 4-hour chart. These technical indicators counsel that BTC’s ticket could perhaps perhaps well merely continue to tumble within the following 24-hours.

The downside aim for this bearish thesis is the toughen stage at around $23,581.38, which is also the irascible for the bearish descending chart pattern that has been established on BTC’s 4-hour chart. Could level-headed BTC’s ticket rupture this stage within the following 24 hours, then the following downside aim would perhaps be $23,300.

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