According to Michael van de Poppe's analysis, Bitcoin is currently facing a significant technical level at 68,56 thousand dollars. The renowned analyst views the price's failure to break above this resistance on the first attempt as a normal development for the market. According to Poppe, for a strong uptrend to form, BTC needs to spend time at these levels and go through a consolidation phase. The point the analyst highlights is that the short-term trend has turned upward again; he considers this among the most notable trend reversals since October 10th. Such consolidations are recognized as a frequently seen pattern before a stronger movement.