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Michaël van Poppe, a known crypto trader, said it’s been a few days since he marked $28.4K as his target area on Bitcoin, and he is still watching to see how the market will react.
Notably, prices were rejected at $29.4K, so Poppe will see how the lower ranges will play out. A flip of $29.4k could trigger a move up to $32.8k.
If we do not get a reaction from here, it might mean that the market is not really interested in this price range and will continue to move lower.
He said that he is still monitoring the situation and will update his viewers if anything changes. $28.4k is the line in the sand for Bitcoin marked a few minutes prior.
The market has been consolidating around $30k since last week, and it looks like a move lower could be seen in the next few days. His target area of $28.4k, which is where he expects to see some serious buying interest emerge.
Prices are likely to fall further below $28.4k, resulting in a drop to $26k or lower. The crypto trader advised his viewers to take note of the $29.4k as a key level for Bitcoin prices, which have been consolidating around $30k lately. A move below $28.4k could trigger a further decline towards $26k, according to the crypto trader.
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