This altcoin is gearing up for a strong bullish outlook according to a top analyst
Cryptocurrency analyst and trader Michael van de Pope suggests that Sei (SEI) may be preparing for a bullish reversal.
According to the analyst since January Be has experienced a decline of approximately 70% vs Bitcoin (SEI/BTC).
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Another optimistic prediction for Bitcoin from crypto expert PlanBHis analysis of the daily chart shows that Sei may find support around $0.42.
A new round of upward momentum seems inevitable $I KNOW has corrected more than seventy percent since the BTC ETF listing. pic.twitter.com/GR6x3dSHti
- Michaël van de Poppe (@CryptoMichNL) June 7, 2024
Shifting the focus to Bitcoin, the expert notes that the leading cryptocurrency is currently trading in the range of $67,800 and an all-time high of around $73,800. He believes Bitcoin is poised for a breakout to a new all-time high.
However, in case Bitcoin takes a bearish turn, the trader provided potential support levels for BTC including $67,789, $60,748 and $56,000.
# Bitcoin is still stuck within the range, but very heavily ready for a breakout upwards to a new all-time high.
Slowly, but surely, the altcoins are rolling along.
It's a good time. pic.twitter.com/4g7nUH8JxO
- Michaël van de Poppe (@CryptoMichNL) June 7, 2024
According to him, the main catalysts determining bullish sentiment for Bitcoin and other cryptocurrencies will be the easing of monetary policy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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