A widely followed crypto analyst says Bitcoin (BTC) could test the $24,000 range before moving up.
Crypto trader Michaël van de Poppe tells his 598,300 Twitter followers that BTC must break $29,600 to move back up into the $30,000 range.
“Bitcoin has cleared all the liquidity beneath the lows and dropped towards the $26,000 block.
There’s still a level around $24,000 left that could be tested, although the move becomes overextended.
If it wants anything upwards, a break above $29,600 is required.”
Bitcoin is trading for $29,381 at time of writing, down 3.15% in the last 24-hours. The leading crypto asset by market cap is down 26% over the last 30 days.
Looking at leading smart contract platform Ethereum, Van de Poppe says ETH had a decent bounce from its May 11th low of $1,824 to its current value of $1,982.
Let’s continue the bounce.”
Van de Poppe also gives his opinion on blockchain oracle LINK, a crypto designed to incentivize the use of the Chainlink network, which connects smart contracts and allows any blockchain to access real-world data.
“LINK at $6 is a once-in-a-lifetime opportunity.”
Chainlink is trading for $6.59 at time of writing, down 15% over the last 24 hours and down 52% over the last month.