Bitcoin – can the support of the bear market be recovered?
However, data from Cointelegraph Markets Pro and TradingView clearly show that BTC/USD is consolidating again after reaching a peak of about $22,500 on Bitstamp.
Cointelegraph contributor Michaël van de Poppe shared the following with his followers on Twitter:
I do not expect a continuation of the Bitcoin course at the moment, as we are faced with the 200-week MA and the resistance of the range
Another trader and analyst, Rekt Capital, was also extremely skeptical about the potential for Bitcoin to continue the upward momentum now immediately for the next time.
However, Van de Poppe added, adding that a breather would be worthwhile for the market at the current level. He wrote the following:
A slight consolidation would trigger a continuation, and a breakout above 22.6K$ would activate massive long positions towards 28 K$. Good times!
