After Bitcoin’s price dropped below $60,000 not long ago, crypto expert Michael van de Poppe has found a key sign that it may go up from where it is now. As van de Poppe wrote on X (which used to be Twitter), Bitcoin’s CME gap has closed. This could mean a safety bounce. Based on his picture, BTC is likely to go up again after taking back support at $60,000.
In the same way, crypto expert Mikybull Crypto said that the CME gap had closed and agreed with van de Poppe’s positive outlook. He thinks BTC could rise back up to around $60,000 and maybe even continue to rise up.
Bitcoin’s Technical Patterns Analyzed
Mikybull Crypto said that BTC has finished an inverse head-and-shoulders pattern on the daily chart. If it goes above $62,000, the minimum goal for a breakout is $70,000.
Mikybull Crypto also talked about the Moving Average Convergence/Divergence (MACD) indicator. This shows that Bitcoin is about to make a positive cross, which means it is strong and the price could go up.
Even though Bitcoin has not done well lately, he’s still sure that there will be a steep rise because the cycle top has not been reached yet. He believes that BTC could reach more than $100,000 or even $130,000. Prices should aim for between $138,000 and $150,000 during this bull run.
As Bitcoin struggles to stay above $60,000, more and more people in the crypto world are saying negative things. BTC might drop to around $40,000, according to some. A crypto expert called CrediBULL Crypto believes that such a drop is not likely to happen soon.
He thinks Bitcoin could wick down to $58,000, hold a higher low above $56,000, and then turn around. If the $56,000 level is broken, he thinks the price could fall to the $53,000 demand area.
CrediBULL Crypto thinks that a drop to $40,000 is the least likely outcome and warns people not to put too much stock in this chance. He says that Bitcoin still has to overcome a lot of problems before it can drop to such a low level.
