Bitcoin (BTC) is currently at $27,078 after a thin relief. Looking at this, Dutch crypto analyst Michael van de Poppe said that the market will remain at $26,800 as support. From the graph he shared, he showed a candle in the shape of a long-legged doji in a timeframe of 1 hour.
“Will Bitcoin stay above $26,800? The answer is yes. This means that the trend will continue until the $26,800 level disappears,” Poppe tweeted on Sunday, March 19, 2023.
Poppe predicted, for some time ahead the thin rally may also happen again. However, any slight increase that occurs will be accompanied by a retest. That’s why Poppe focused on the last increase at US$28,300 – US$28900.
“Seek the last increase at US$28,300 – US$28900 and then reverse,” he said.
On the other hand, other analysts with the account name IncomeSharks explained that people tend to be bullish for the wrong place and time. He stated that people should start buying when the price of Bitcoin is at $20,000 – $21,000, and sell when it reaches $28,000.
“The bullish people are in the wrong place. If you’re not buying for $20,000, then you don’t buy at the current position,” Sharks said.
According to him, even if later Bitcoin would rise to $30,000 to $40,000, then investors should start waiting for the red candle (correction) to buy, and the green candle to sell. Not only that, Sharks is even convinced that at the moment BTC is already in the sale zone.
Meanwhile, crypto Twitter with the name @PayneResidence or aQua explains that the market is currently driven by pure liquidity. If he later gets a nPOC above $29,000, then many people will probably be short.
“After liquidity on top positions, the market will go down cleaning and preparation long below US$19,000, which will surprise everyone. Whether long or short, the market is crazy,” said aQua.
At the time of the press, the price of Bitcoin was at $27,000 according to Tradingview.
