Bitcoin Could Surge 6% to New All-Time High Says Analyst

Cryptocurrency analyst and trader Michaël van de Poppe has expressed optimism about Bitcoin's (BTC) potential to reach new heights. According to van de Poppe, Bitcoin is showing signs of turning bullish and could surge above the $112,000 price mark, hitting a new all-time high if it manages to break above the resistance level at around $108,900. This prediction is based on his analysis of Bitcoin's chart on the four-hour time frame, which suggests that if BTC loses $105,500 as support, it could witness a dip to the zone around $100,000.

At the time of writing, Bitcoin is trading at $105,617, indicating that it is close to the support level identified by van de Poppe. The analyst's bullish outlook is not limited to Bitcoin; he also sees potential in the scaling solution Optimism (OP). According to van de Poppe, Optimism has formed a bullish divergence against Bitcoin on the three-day time frame. A bullish divergence occurs when the price makes lower lows or trends sideways while an indicator such as the Relative Strength Index (RSI) is forming higher lows. Van de Poppe believes that this divergence could indicate that the altcoin is likely to turn around soon against Bitcoin.

Van de Poppe's analysis suggests that if Bitcoin can break above the resistance level at $108,900, it could be primed to hit a new all-time high. This prediction is based on his technical analysis of Bitcoin's price movements and chart patterns. The analyst's bullish outlook on Bitcoin and Optimism reflects his confidence in the potential of these cryptocurrencies to appreciate in value. However, it is important to note that van de Poppe's predictions are based on his analysis and should not be taken as investment advice. Investors should conduct their own research and due diligence before making any high-risk investments in cryptocurrencies or digital assets.