• Bitcoin’s price is a concern for investors, but top expert Michael van de Poppe has shared his technical analysis that suggests the cryptocurrency could continue to rally.
• Van de Poppe highlighted the potential of yields falling apart and the Federal Reserve taking action to help risk-on assets.
• He also warned of systemic issues in the US banking system with several banks on the brink of collapse due to a rescue plan from the Federal Reserve.
Bitcoin Technical Analysis
Expert Michael van de Poppe recently shared his technical analysis of Bitcoin, highlighting its potential for a rally amidst the ongoing collapse of US banks. According to van de Poppe, Bitcoin has been trending downwards due to fears surrounding stablecoins, but recent actions by the Federal Reserve have stabilized the market. The analyst noted that there is currently bearish divergence at $19.7k and resistance at $23.5k – optimal long entry is at 21.3K with any move between $22.2K and $22.5K being an ideal entry point for longing BTC.
US Banking System Collapse
Van de Poppe warned of systemic issues in the US banking system with several banks on the brink of collapse due to a rescue plan from The Federal Reserve – including Pac-west Western Alliance and First Republic Bank. He cautioned that this shock will take some time before it fully manifests, urging traders and investors to be careful during such times as heavy corrections could lead to selling pressure taking over markets once again.
Potential Impact on Real Estate & Debt Markets
The top analyst also addressed concerns about how this banking system collapse might affect real estate and debt markets – noting that these negative effects may only manifest over time as opposed to seeing them instantly in certain situations or scenarios. Despite this warning, he still sees potential for Bitcoin prices continuing their upward trend regardless of any systemic issue occurring in other financial sectors such as banking or real estate markets globally.
Risk Management Strategies
Given all these considerations, it’s important that traders and investors look into proper risk management strategies when trading cryptocurrencies or other financial instruments during times like these where global economic instability can trigger sudden sharp downturns in asset prices across different markets simultaneously – something which could easily catch inexperienced traders off guard if they are not properly prepared ahead of time with effective strategies in place beforehand!
Conclusion
To conclude, despite potential issues occurring within other sectors such as banking or real estate markets globally, expert Michael van de Poppe still sees potential for Bitcoin prices continuing their upward trend according to his technical analysis – although it’s always important that traders pay attention to risk management strategies so they don’t get caught off guard by sudden sharp downturns in asset prices across multiple different markets simultaneously!