Bitcoin Could Break $108,900 to Reach New High; Optimism Shows Bullish Divergence
Analyst Michaël van de Poppe identifies key resistance at $108,900 for Bitcoin, suggesting a breakout could propel BTC above $112,000. Current trading around $105,600 faces a critical support at $105,500; a drop below may trigger a pullback to $100,000. Van de Poppe also highlights a bullish divergence between Optimism (OP) and Bitcoin on three-day charts, indicating potential recovery for OP against BTC. He cautions investors about high volatility in crypto markets and recommends monitoring these price levels closely while conducting independent research before trading.
Bullish
Van de Poppe’s outlook centers on Bitcoin clearing a major resistance at $108,900, historically a trigger for substantial rallies. A successful breakout could renew bullish momentum toward the previous all-time high above $112,000, as seen in similar surges when key levels were overtaken. The identified bullish divergence in Optimism further reinforces positive sentiment, often preceding price reversals. Short-term traders may capitalize on these patterns, while long-term investors could view the move as confirmation of renewed upward trends. However, the advice to watch support at $105,500 highlights risk management amid typical crypto volatility.