Bitcoin (BTC) Repeats The Pattern Of 2020, Trader Michaël van de Poppe Says

Cryptocurrency markets are trading lower, with liquidations spiking over $100 million on Friday.

Cryptocurrency markets traded lower on Friday, with liquidations spiking over $100 million, as reported by Coinglass.

Bitcoin (CRYPTO: BTC) dropped 0.3% to $31,000.

Ethereum (CRYPTO: ETH) fell 0.8% to $2,100.

Dogecoin (CRYPTO: DOGE) gained 0.2% to $0.14.

Shiba Inu (CRYPTO: SHIB) declined 1.2% to $0.00002.

Optimism (CRYPTO: OP) fell 2.3% to $2.8.

The crypto trader Michaёl van de Poppe outlined that Bitcoin “is in the crucial area of support and repeats the pattern of 2020.”

CryptoCon noted that Bitcoin is trending down.

20-week EMA holding strong, now at $61,800.

Still looking good! It's been boring and sideways since March, but sometimes that's just what you need to build up strength for the next move… pic.twitter.com/0CNT4bd8Te

— CryptoCon (@CryptoCon_) June 21, 2024

Andrew Crypto, in his latest tweet, noted that Bitcoin went lower and headed to its demand zone. He suggested that it is a good place to build longs but added, “as we are heading into the weekend caution is required.”

Titan of Crypto predicted that Bitcoin's most hated rally is incoming and expects a “last epic leg up soon.” He adds, “The market is playing with your nerve and as per usual many will be fooled by this BTC price action.”

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-btc-repeats-pattern-trader-micha-van-de-poppe.html

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