Michaël van de Poppe: Bitcoin price must break $63.800

Bitcoin is showing a strong rally and is trading around $63.400 at the time of writing, up 0.6% over the past 24 hours. Analyst Michaël van de Poppe sees the market looking increasingly better, but points to a number of crucial levels that will determine whether the price can continue to rise towards $65.000 or must first return to lower support areas.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin rises to around $63.400 and recently tested resistance near $63.800
• Van de Poppe is closely watching support between $63.150 and $63.300
• If that support holds, he expects a price target of $65.000 in the coming week

Resistance at $63.800 must fall first

According to Van de Poppe, the level around $63.800 is the first hurdle Bitcoin must clear. He does not expect this to happen immediately, but believes market conditions are improving.

Before a genuine upward breakout is possible, he anticipates a pullback to the support zone between $63.150 and $63.300. That area must hold, he says. If it does not, he sees the price potentially sliding below $62.200, the level where he himself would prefer to enter.

Bitcoin towards $65.000 if support holds

If the support zone between $63.150 and $63.300 does hold, Van de Poppe expects Bitcoin to rise to $65.000 in the coming week. He describes this not as a major breakout, but as a move within a range.

At the same time, he sees room for shorter jumps of 10% to 20% in altcoins if Bitcoin recovers. This aligns with recent signals that short-term Bitcoin holders are starting to buy again after months of selling, which could point to returning confidence in the market.

Van de Poppe indicates that he himself is not trading on the aforementioned support zone or a direct upward breakout. He prefers to zoom out and wait for a clearer moment, but shares the analysis as context for others who follow the market more closely.