Renowned cryptocurrency trader and analyst Michaël van de Poppe shared in his latest video that Bitcoin (BTC) is currently facing a “pivotal resistance” level. According to the analyst, there is some “serious momentum” as a result of the exchange-traded fund (ETF) hype, which could see the market leader rise to as high as $40K-$45K.
Van de Poppe did warn that there is a bearish divergence on BTC’s chart. He did, however, mention that he is not too worried about a BTC correction currently. Until the cryptocurrency starts printing lower lows, there may be no reason for concern, added the analyst.
He also stated that there is a clear upward pattern on BTC’s charts, given that it has printed higher lows and higher highs over the past few weeks. Should the leading cryptocurrency rise to between $40K and $45K, then he anticipates a correction down to $39K around the halving event next year in April.
At press time, BTC was changing hands at $37,367.17. This was after it experienced a 1.16% pullback throughout the past 24 hours of trading. Nevertheless, BTC’s weekly performance remained in the green at a 0.37% increase, according to CoinMarketCap data.
Van de Poppe also went on to mention three altcoins that he will be keeping a close eye on in the short term. Chainlink (LINK), Arbitrum (ARB), and SEI were highlighted by the analyst. According to him, LINK currently has good momentum, and he foresees a continuation of this bullish support.
Meanwhile, ARB could mimic the price movements of Ethereum (ETH) in the next few days, mentioned the analyst. Therefore, the altcoin leader’s strengthening could lead to ARB’s price rising as well. When it comes to SEI, Van de Poppe stated that its price is “going up massively,” but warned that a few corrections are anticipated.
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