Cryptocurrency markets are showing signs of their usual weekend correction, and analyst Michael van de Poppe has highlighted this recurring pattern. In his post, he said, that investors often reduce risks before the start of trading on Monday, which leads to short-term declines at the beginning of the week.
Every weekend there is a sell-off… on Sunday the markets will most likely rebound and continue to rise, he wrote.
The analyst also identified the $72,000 level as a key support zone, holding above which will help maintain the bullish momentum.
Michael’s chart shows that after the price fell from $77,000 Bitcoin It’s consolidating. However, the market has almost exited the consolidation phase and has formed upper lows in its trading activity.
He noted that the $71,400 price level represents an important support level. A break below this level would mean the recovery is over, while a hold above it would support short-term gains.
Additionally, kriptovalyuta The pair faces resistance in the $76,600–$79,100 price range. Further upward movement could lead to a test of the $86,500 level, which is likely to generate significant selling pressure.
On According to CoinGecko, evening of April 18 Bitcoin traded at $75,655, down 2,2% over the past 24 hours. Trading volume remains moderate, suggesting the recent rally hasn’t gained sufficient support among market participants.
Altcoin sentiment remains negative as CMC Altcoin Season Index is at around 34, indicating Bitcoin’s continued dominance in market flows. However, Michael van de Poppe believes this trend reflects the late stages of a bearish cycle for alternative tokens.
Now markets significantly underestimate the growth potential of altcoins, the expert concluded.
Hanzo Analyst predicts, that in the next cycle Bitcoin may reach $170,000, indicating long-term growth potential. Doctor Profit, on the other hand, warnedthat the current rally could represent a bull trap and highlighted the risks of a short-term reversal.
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