Cryptocurrency expert Michael van de Poppe he outlined crucial price level which Bitcoin needs to break out of. He claims that after a successful mint, the flagship cryptocurrency will see: modern all-time record (ATH).

Bitcoin needs to break $70,000

Van de Poppe mentioned in X (formerly Twitter) post that Bitcoin needs to break through $70,000 based on the lower time frame (LTF). When this happens, the analyst said Bitcoin will likely see modern ATH.

He also noted that lower time frame regions at $67,000 are holding up. Meanwhile, he highlighted Bitcoin long consolidationstating that it has been almost three months since the cryptocurrency has been in this range. .

However, the cryptocurrency expert believes that Bitcoin is likely to remain in this range for a “significant period of time”, with flagship cryptocurrency probably rates lower. This is because it predicts a rotation away from Bitcoin towards Bitcoin Ethereum and other altcoinswhich will prevent the flagship cryptocurrency from going positive.

This long period of consolidation was expected for BTC. Arthur Hayesco-founder and former CEO of BitMEX, predicted that the crypto token will continue to be in the $60,000 to $70,000 range through August. Rekt Capital cryptocurrency analyst also many times mentioned that Bitcoin is facing such a long period of consolidation, which he believes is good for Bitcoin.

He noted how the flagship cryptocurrency hit a modern ATH before event by half caused an accelerated cycle. However, the long consolidation period means that Bitcoin is trying to re-sync with previous halving cycles. He suggested that this was a better solution because it would make the bull run longer. Rekt Capital claims that if it successfully synchronizes with previous bull cycles, Bitcoin will peak sometime in September or October next year.

In recent Post X, Rekt Capital mentioned that “at these highs, there is still scope for additional consolidation,” but added that the time remaining at this stage is “slowly running out.” A chart shared by the analyst suggested that Bitcoin simply needs to break out of the $70,000 range before entering the market “parabolic trend” phase.

BTC may reach $78,000 next

Mikybull Crypto cryptocurrency analyst Lately he suggested what Bitcoin could be reached the amount of $78,000 on the next dais. He revealed that the flagship cryptocurrency has broken out of a head-and-shoulders inverse pattern and is currently “bullishly waiting for the next move.” He emphasized that the target price for this next move is $78,000.

In the next one Post Xstated that retesting BTC’s support level could be the next step before this “explosive rally” finally occurs. Bitcoin potentially rising to $78,000 is significant because it could clear the way for… flagship cryptocurrency reached $100,000. Crypto Jebb cryptocurrency analyst previously mentioned that there is a “high probability” that Bitcoin will surge to $100,000 if it breaks through its current ATH of $73,800.

Featured image created with Dall.E, chart from Tradingview.com