High Volatility May Be on the Horizon for BTC, Predicts Analyst

Published 24/07/2023, 09:28
© Reuters.  High Volatility May Be on the Horizon for BTC, Predicts Analyst

  • Michael van de Poppe tweeted yesterday that BTC is trading in a crucial area.
  • The analyst predicted that a rejection from this resistance may lead to a steep drop in BTC’s price.
  • At press time, the market leader was trading at $29,786.84 after it dropped 0.43% in the past 24 hours.

The renowned trader and analyst Michael van de Poppe shared in a tweet yesterday that Bitcoin (BTC) is trading in a “crucial area” that it needs to break. In the post, he predicted that if the leading crypto is able to break above $30,308 then it may climb to higher highs. On the other hand, rejection from this price point could see BTC’s price drop drastically.

Daily chart for BTC/USDT (Source: TradingView)

BTC’s price had attempted to break above $30,308 yesterday but was unable to close the day’s trading session above this significant resistance level. This forced the cryptocurrency’s price to drop bel…

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