Market analyst Michael van de Poppe believes that Bitcoin (BTC) is building a bullish structure following an improvement in the geopolitical climate in the Middle East, but warns that the $80,000 area will be a decisive test for the market.
In his analysis published on April 8, 2026, Van de Poppe begins with the following specific facts: Bitcoin rises after latest news on Middle East conflict.
As reported by CriptoNoticias, the digital asset is trading above $70,000 following the announcement of a two-week ceasefire between the US and Iran and the reopening of the Strait of Hormuz, the maritime corridor through which 20% of the world’s oil flows.
In this framework, the analyst is explicit about the relationship. “This is what you want to see. I said earlier that a ceasefire would be a clear direction for the market. That’s what happened,” he said.
He added: “Bitcoin has broken through the important $71,000 level and is building a bullish structure. Oil is falling and the channel is opening. This means Bitcoin’s mean reversion is becoming more active.”
To support his thesis, he shared BTC charts and technical indicators.
The graph he shared shows exactly that number. This is a daily BTC chart, which first shows the following: There was a sharp decline in February, followed by a phase of recovery and consolidation.
Moving averages (MAs) are displayed in blue above prices and serve as a reference for medium-term trends. After several weeks of decline, BTC managed to return to the $71,000 area, which is marked as an important technical level on the chart.
For Van de Poppe, this breakout was “vital” because it changed the immediate structure of the market and allowed him to reconsider the series of higher lows and higher highs.
The middle part of the chart shows a green zone located between approximately $69,500 and $70,000. This area represents the support that BTC should protect for the bullish thesis to remain valid.
Remember that in technical analysis, support is an area where demand appears, and we tend to find support when prices reverse. Van de Poppe sums it up this way: “What’s important for BTC to hold? I’m looking forward to the $69,500 to $70,000 area holding as support.” He then added why that level is important. “That would strengthen the whole theory of higher lows and higher highs and continue the upward momentum.”
At the top of the chart, a red zone is marked around $80,000. It is marked as the next major resistance level, and is usually the level at which price slows down with the emergence of a selloff.
Van de Poppe said the level is not chosen randomly. “The 200-week moving average is at $79,000, so I’m marking this level as a key resistance zone at $80,000, which resonates with any liquidity above the highs,” he explained.
In other words, the areas where long-term technical documents and pending orders would be concentrated are concentrated there. This could make it more difficult for the bulls to continue without interruption.
Analysts’ basic thinking is that if Bitcoin maintains the aforementioned support and can take advantage of the relief left by the Middle East ceasefire, Bitcoin could continue to rise. With the drop in oil prices and the reopening of the Strait of Hormuz, at least for now, This is part of the global inflation risk, which benefits assets that would normally be considered risky.
Ray Dalio warns the market
However, not everyone shares this positive view of the political and macroeconomic situation. Ray Dalio warned on April 7 that markets tend to react as follows: Too much energy for the most shocking event of the momentwithout paying sufficient attention to deeper structural forces.
The Bridgewater founder and experienced investor commented in his latest publication that for him the ceasefire may have given the market some fresh air. However, it does not necessarily resolve the overall background image In his opinion, this is still important.
Against this backdrop, Bitcoin will face a real test in the short term. So this momentum could prove to be not just a rebound from geopolitical easing, but the beginning of more bullish momentum.
(Tag Translate)Bitcoin (BTC)
