Bitcoin s Weekend Correction: Insights from Analyst Micha l van de Poppe

Cryptocurrency markets are showing signs of the typical weekend correction, a recurring pattern noted by analyst Micha l van de Poppe. In his post, he pointed out that investors often reduce risks before Monday s trading begins, leading to short-term declines at the start of the week.
Every weekend there is a sell-off... on Sunday the markets are likely to bounce back and continue to rise,
he wrote.
The analyst identified the 72,000 level as a key support zone, with staying above it helping to maintain bullish momentum. His chart shows that after a price drop from 77,000, Bitcoin is consolidating. However, the market is almost out of the consolidation phase and has formed higher lows in its trading activity.
He noted that the price level of 71,400 is a crucial support level. A break below this level would mean a cancellation of the recovery, while holding above it would promote short-term growth.
Additionally, the cryptocurrency faces resistance in the price range of 76,600 79,100. Further upward movement could lead to testing the 86,500 level, which is likely to trigger significant selling pressure.
According to CoinGecko, on the evening of April 18, Bitcoin was trading at 75,655, down 2.2 over the last 24 hours. Trading volume remains moderate, indicating that the recent rally did not receive sufficient support from market participants.