Will the rise in Bitcoin, which started the week strong, continue? Experienced Analyst Says "Yes", Points to This Week!

The leading cryptocurrency, Bitcoin, fell below $61,000 with a sharp decline from $73,000 and then entered a consolidation phase.

While BTC generally moved horizontally during this process, a positive assessment came from experienced analyst Michael van de Poppe.

Poppe, who based his analysis on the weekly candle formation, said that he expected Bitcoin to test above $ 70,000 this week.

“Looking at the weekly candles across the markets, it looks like most altcoins have hit a relative bottom.

“With great strength in altcoin markets, I think Bitcoin is likely to test $70,000 next week.”

Poppe then pointed out that Bitcoin was still in a consolidation phase and said that BTC had a chance to make another test at its all-time high before the halving.

Looking at the weekly candles across the markets, it seems like we're relatively bottoming out for most of the #Altcoins.

I think it's also likely Bitcoin tests $70K upcoming week, including a lot of strength on the altcoin markets.

— Michaël van de Poppe (@CryptoMichNL) March 24, 2024

*This is not investment advice.