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>>Is Bitcoin at its low? Analyst highlights two major resistance levels to watch.

Is Bitcoin at its low? Analyst highlights two major resistance levels to watch.

crypthub

about 2 hours ago

Current Bull Trend

Michaël van de Poppe says Bitcoin has already hit its cycle bottom and entered a sustained up‑trend that began in early April. The price climbed from roughly $67,500 to a recent peak near $80,000, delivering about a 20% gain. Van de Poppe views this move as the start of the next bull phase. The cryptocurrency now trades just above $80,900.

Key Resistance Levels

The analyst identifies two critical resistance zones: $86‑88 k, which acted as major support from November to January, and $93‑95 k, aligning with the 50‑Week Moving Average (MA). Historical cycles in 2017, 2021, and 2024 show the first rally often stalls at the previous support level or the 50‑Week MA. When the 50‑Week MA falls below the 200‑Week MA, it typically flips to strong support, enabling further rallies.

Consolidation and Altcoin Outlook

Van de Poppe expects Bitcoin to linger around these resistance zones for several weeks, possibly retesting the $70‑75 k range before resuming its climb. During the consolidation, altcoins may attract capital and post a notable rally, offering a chance to recover bear‑market losses. Daily trading volume has dropped about 44% to $19.3 billion, indicating reduced market participation.