Bitcoin is currently trading at $111,806, showing slight daily gains of 2.15% but still down nearly 1% over the past week.
The world’s largest cryptocurrency remains under pressure as it faces crucial resistance zones that could determine its next major move.
Crypto analyst Michaël van de Poppe shared insights on August 27, noting that Bitcoin is at a critical point. According to him, breaking through the immediate resistance would signal the possibility of a market reversal. Without such a breakout, however, the market could remain in what he described as “bad territory,” though still favorable for accumulation opportunities.
Bitcoin’s Critical Test
Van de Poppe pointed out that Bitcoin is now fighting its “first clear resistance to break back into the range.” A successful move higher, he argued, would be a strong signal for bulls after the recent correction that dragged BTC away from its new all-time highs.
His chart analysis highlighted liquidity levels around $113K to $115K as key zones to watch. If Bitcoin clears these areas, it may confirm a reversal pattern, potentially restoring market momentum.
Ethereum Accumulation Zone
While cautious on Bitcoin’s short-term resistance, Van de Poppe expressed interest in Ethereum at current levels. With ETH trading around $4,620, he marked this region as an attractive entry point for accumulation, anticipating long-term upside if Bitcoin stabilizes.
Market Outlook
The broader crypto market continues to move in correlation with Bitcoin, with traders eyeing resistance levels as potential turning points. Despite recent volatility, analysts argue that dips remain opportunities for accumulation, especially in top assets like Ethereum.
Van de Poppe’s comments suggest that while Bitcoin’s next move will dictate short-term sentiment, patient investors may find this period ideal for strategic positioning.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/bitcoins-make-or-break-moment-what-happens-if-it-fails-to-break-resistance/