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A widely followed crypto analyst is telling traders that the latest US unemployment data is good news for Bitcoin (BTC).
Crypto trader Michaël van de Poppe tells his 652,300 Twitter followers that the music will continue to play for BTC… for now.
“Unemployment Data comes in at 3.5%, while 3.7% was expected.
Good data for now, other data is worse this week, matter of time.
Bitcoin goes up for now, the music keeps on playing.”
Van de Poppe says that if the king crypto can remain above the $27,600 price level, it could jump to $30,000 next.
“Bitcoin remains in a boring state of mind.
Consolidating for weeks, while old altcoins are breaking out.
I’m still looking at support here, through which $27,600 needs to sustain.
If that’s lost, $25,000-$25,400 seems likely.
Holding here through NFP [non-farm payrolls] -> $30,000 next.”
As for the coming days, Van de Poppe expects this weekend to be a calm one for the leading crypto by market cap.
“Very calm weekend coming up on Bitcoin.
Price action remained flat and the longer we stay in this range, the heavier the impulse will be.
Based on the fact that we’re coming from $15,000, I’d assume we’ll be seeing strong continuation.
For now, support at $27,600 is sustaining.”
BTC is worth $27,974 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/musicman
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