Bitcoin’s ‘no direction’ action may lead to stronger breakout: Analyst
The longer Bitcoin’s price stays flat, the bigger the move up could eventually be, according to a crypto analyst.
Bitcoin’s prolonged consolidation below $70,000 may be paving the way for a more significant rally, according to a crypto analyst.
“The longer it lasts, the heavier the breakout will be,” MN Trading Capital founder Michael van de Poppe said in an X post on Friday.
“Bitcoin remains stagnant in this area, which means that there’s literally no direction,” van de Poppe said, adding that he is eyeing Bitcoin (BTC) breaking through $71,000, a level the asset hasn’t reached since March 26.