• Crypto analyst Michaël van de Poppe tells his 659,900 Twitter followers that there is “nothing to worry” about Bitcoin (BTC) as long as they aren’t trading on high leverage.
• Van de Poppe breaks down what he thinks is next for the king crypto – $30,500 needs to be reclaimed for Bitcoin to move up, otherwise it will drop to $28,000.
• BTC is currently trading at $30,340.
Crypto Analyst Tells Traders ‘Nothing To Worry About’
A widely followed crypto analyst is telling Bitcoin (BTC) traders that there is “nothing to worry” about, given one condition. Crypto trader Michaël van de Poppe has 659,900 Twitter followers and says that as long as they aren’t trading on high leverage right now, they should be doing okay.
Trading On High Leverage And Its Risks
In crypto trading, trading on high leverage refers to the use of borrowed funds to amplify the potential gains or losses of a trade. Though trading high leverage comes with increased rewards, it also correlates to an increased risk for traders.
Bitcoin’s Price Action
After an up-and-down week for BTC that has ultimately resulted in only a slight percentage price change over the last seven days, Van de Poppe breaks down what he thinks is next for the king crypto: “Good run to the highs, taking liquidity, reversing, taking liquidity and now back in the range. Everything is reset.” If Bitcoin wants take its highs again according to Van de Poppe $30,500 needs reclaiming otherwise sub $29500 could spell trouble town and put its price at $28000. Currently BTC is trading at $30340 which marks a 0.6% increase from last week’s prices..
Don’t Miss A Beat
Van de Poppes advice serves as a reminder for crypto traders that remaining vigilant when investing can help them stay ahead of market fluctuations and make profitable trades without unnecessary risks associated with high leverage trades. Those looking for more information can follow Van De Poppes Twitter account or check out The Daily Hodls website where they can get email alerts delivered directly to their inbox with market updates and other industry news so they don’t miss a beat!
“Everything Is Reset”
Van De Poppes analysis sheds light on this period of uncertainty in BTCs price action by reminding us that sometimes all it takes is some patience before we can start expecting any major changes in market trends once again – after all “everything is reset”.