Michaël van de Poppe, the founder of MN Trading and a market analyst, shared his outlook for Bitcoin on Monday, October 19. Posting on X, van de Poppe noted that the digital asset is neither significantly bearish nor yet strongly bullish. He wrote, "#Bitcoin isn't that bearish. It's also not very bullish, yet. It just needs to take out the high and then we'll start to accelerate. Most likely if US Open is green, we'll start to see outperformance here as we've just witnessed a classic correction on Sunday. To me, higher timeframe based, everything looks like it's a normal correction before the next impulse move upwards to $90,000."
Bitcoin's price movements have been a focus for investors, with recent Gokhshtein Media coverage highlighting various market activities. A Bitcoin whale recently moved 411 BTC after 13 years of dormancy, avoiding an exchange, while an on-chain trader exited a $110 million BTC long position. Other analysts, such as Gareth Soloway, have been reported to see a Bitcoin breakout to $100,000, and Michael Saylor projects a bull run driven by institutional custody.
Van de Poppe's view implies that current price action is a temporary pause rather than a reversal. He suggests that a strong performance during the US market open could trigger further gains for Bitcoin. According to his analysis, the asset is poised for an "impulse move upwards to $90,000" based on higher timeframe indicators, indicating a sustained upward trend is expected after this correction phase.
