Michael van de Poppe Believes That the Market Is Very Strong
- Michael van de Poppe uploaded his latest technical analysis to Youtube yesterday.
- The trader stated that there is currently a ton of strength present in the crypto market.
- van de Poppe added that the retracement in the crypto market is a result of U.S. Indices opening in the red.
The popular crypto trader, Michael van de Poppe, uploaded his latest technical analysis for the crypto market yesterday. Despite the global crypto market cap dropping 3.68% over the last 24 hours, as can be seen on CoinMarketCap, van de Poppe stated in the video that the crypto market is still showing “a ton of strength.”
This market strength is evident in the fact that the price of Bitcoin (BTC) rose from $16k and is now hovering between $24k and $25k, briefly breaking above the key $25k level in the last 2 months.
According to the trader, the retracement currently seen in BTC’s price could have been foreshadowed by the retracement seen in altcoin prices prior to BTC’s latest price decline. The trader added that the market-wide retracement seen in the crypto market has been the result of the U.S. Indices which opened in the red yesterday.
The post Michael van de Poppe Believes That the Market Is Very Strong appeared first on Coin Edition.
