Bitcoin Price Correction Continues, Support at $56,500 in Sight

IconCryptoNewsTerminal Staff04 Jul, 2024

cryptonews.jpg

Bitcoin Price Correction Continues, Support at $56,500 in Sight

Michaël van de Poppe, a prominent crypto analyst, recently tweeted his views on Bitcoin's price action. According to van de Poppe, Bitcoin has broken through the CME gap support and established a new low. The next crucial support level to watch is around $56,500, which corresponds to the low reached during the previous FOMC meeting. Van de Poppe believes that if Bitcoin can maintain this support level, it may pave the way for a move above $60,000, signaling a continuation of the uptrend.