The BTC price has likely bottomed out, and a reversal for altcoins is on the horizon.
This assessment was published by crypto trader and blogger Michael van de Poppe (722.1 thousand subscribers in X). Who in recent months has been actively campaigning for the purchase of altcoins and making reasonable arguments. He sold#BTCand now, in theory, his altcoins are in a strong decline.
The analyst believes that the bottom for#BTCbefore moving into an upward impulse is the range of $63,000-65,000. Thus, although this assessment was followed yesterday by another drop below $64,000, his forecast itself is not invalidated. The level of $63,000 is holding. Loy - $63,387.
Quote from de Poppe:
“Bitcoin likely bottomed in this area between $63-65K and found itself in upward momentum.
As a result, altcoins are beginning to show greater strength as Bitcoin's dominance declines.
A reversal is already on the horizon.”
Let’s add to his words that after our review today, BTC’s dominance actually continued to decline. Aiming at the EMA of the 50 day TF (currently 54.98%). Oversold altcoins draw in liquidity, reflecting the positive sentiment of the bulls on them. For now, a stable downward structure is being established, but it is important to see a breakdown of the indicated EMA.
