Bitcoin

Chainlink

In the ever-evolving landscape of cryptocurrency, investors and traders are closely monitoring the market for signs of a turning point. Michael van de Poppe, the CEO of the educational platform MN Trading, delved into recent altcoin trends and analyzed Bitcoin&#39;s consolidation, aiming to share insights on the market&#39;s trajectory.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/858c458f7b2e4745a71bf1f23a314122.png" />Michaël van de Poppe highlighted the current state of Bitcoin, the leading cryptocurrency, is currently experiencing a period of consolidation. After a series of sideways movements, it is approaching a critical resistance level, with the potential for a breakout on the horizon. Traders eagerly await the moment Bitcoin surpasses the resistance at 32.2k, signaling the start of a significant upward trend.Moving on, Michaël van de Poppe spoke on indicators that suggest that Bitcoin might be preparing for an upward move. Higher lows have been forming, indicating a potential for a higher high. The 200 EMA and MA indicators also hold, suggesting that a significant downward correction is unlikely. This consolidation phase offers an opportunity for traders interested in altcoins, as the market remains intriguing until a breakout occurs.During his analysis, van de Poppe examined the performance of altcoins. He noted that Litecoin had encountered a bearish divergence, resulting in a correction. The altcoin is currently nearing a critical level, which, if exceeded, could pave the way for additional market movements. Van de Poppe also observed that Chainlink is currently consolidating within a specific range, with the potential for an upward trend once it successfully closes the existing gap.Read full article at <a href="https://cryptotale.org/altcoins-on-a-downtrend-as-bitcoin-consolidates-market-analysis-and-outlook/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Altcoins on a Downtrend as Bitcoin Consolidates: Market Analysis and Outlook

CryptoTale

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