- Crypto trader Michael van de Poppe believes that BTC’s dominance will decline next week.
- Poppe expects Bitcoin to witness a rally if it manages to soar past $29,800.
- As for altcoins, the trader is watching Chainlink (LINK), Dogecoin (DOGE), and Shiba Inu (SHIB).
Michael van de Poppe, a popular trader among crypto circles, believes that Bitcoin’s dominance in the crypto market will take a hit next month. The crypto trader’s projection was based on the technical analysis of Bitcoin’s daily chart, which revealed that BTC is consolidating at the moment.
According to van de Poppe, a rally in Bitcoin’s price is contingent on testing resistance areas and breaking past them. As of now, $29,800 has emerged as a key resistance area. BTC would have to soar past this level to gain momentum and deliver a bullish price action. He added that BTC had been making higher highs over the past few days, indicating an impending rally.
The crypto trader is confident that BTC will make at least one significant push before halving. The halving event is expected to take place in April next year when BTC’s block height reaches 840,000. The halving will bring down the m…
The post Crypto Trader Projects Reduction In Bitcoin Dominance By Next Week appeared first on Coin Edition.
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