Michaël van de Poppe suggests August may be a stabilization month before Bitcoin and altcoins resume their upward momentum.
Bitcoin has begun a healthy correction after its parabolic move to an all-time high above $123,000 in July. According to analyst Michaël van de Poppe, this phase offers a critical opportunity for accumulation ahead of the next major leg up.
“It’s time to accumulate your next positions for the next run,” Van de Poppe tweeted.
At press time, Bitcoin is trading around $114,670, testing a key liquidity area identified between $115,000 and $116,000. Technical analysis suggests that the $110K-$112K range may act as a strong support zone and accumulation region if the price dips further..
The recent price action has taken out short-term liquidity pockets, suggesting that the market may now be primed for a breakout once consolidation ends. As one on-chart note states: “Liquidity taken, ready for breakout?”
