Traders eye “massive long” as Bitcoin teases epic move

As the cryptocurrency market continues to watch who will make the next major move – bulls or bears – Bitcoin (BTC) has successfully broken a key price level that could lead it to take an epic move and provide a massive long opportunity.

Specifically, Bitcoin has managed to surpass $112,000, which popular crypto analyst Michaël van de Poppe earlier said would provide a “massive long opportunity,” and things are looking great for the maiden crypto asset, as van de Poppe himself noted on September 5.

Bitcoin price analysis and predictions

As a reminder, the crypto trading expert has previously noted that BTC failing to show strength in the coming days and continuing to fall to an area between $102,000 and $104,000 would be a massive long opportunity from a trader’s perspective. 

At the same time, he pointed out that breaking above $112,000 would be “another massive long opportunity,” and added that “anything in between is just not relevant,” in an X post on September 4.

On the other hand, another popular crypto analyst, the pseudonymous Egrag Crypto, has observed that Bitcoin might have started to lose its market dominance as its exponential moving average (EMA) crossovers suggest, opening room for altcoins to perform better and signaling altseason.

For the time being, Bitcoin is changing hands at the price of $112,305.86, indicating an increase of 1.3% in the last 24 hours, a 2.29% gain across the previous seven days, as it moves to reduce the 1.61% decline accumulated on its monthly chart.

This means that Bitcoin could be in the clear from the brutal rejection and danger of a deeper pullback it was facing earlier, when fellow professional crypto trader Ali Martinez opined that the flagship decentralized finance (DeFi) asset could be heading towards the next supports at $107,200 and $103,000.