Crypto trader and analyst with a large following, Michaël van de Poppe, maps out price levels to watch for Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA). We also have this map cryptocoin.com as we present to you.
“I think Bitcoin will return to its all-time high”
In a recent market conversation, Michaël Van de Poppe shows his 127,000 YouTube subscribers that Bitcoin has recently reclaimed an important price area and Bitcoin is poised for a new rally:
Yesterday, we did a nice retest. So the price went above the range ($47,000 – $50,000) and we actually retested the levels I wanted ($47,000) and at this stage it’s perfectly normal. We are getting some consolidation in the Bitcoin markets.
Therefore, the crypto analyst states that it is very important for him to watch this entire region between $46,000-47,000 and predicts that as long as it stays above it, it can continue towards the higher ranges of $50,000 and then go further. Michaël Van de Poppe continues his speech as follows:
Get some sideways action that altcoins would be absolutely great at. And once we break above $50,000, I think Bitcoin will bounce back towards its all-time high.
Michaël Van de Poppe: The critical level to watch for Ethereum is $ 3,394
Taking a look at Ethereum (ETH), Michaël Van de Poppe says he wants to see the $3,400 level as support before hitting new highs:
This is the level I’m looking at, between $46,000 and $47,000, which is very similar to the Bitcoin level. If this holds and we see us reversing the trend at this stage with Ethereum, I think we will continue towards the higher range from $3,840 to $4,000.
The trader states that against Bitcoin, ETH is consolidating below the 0.077 BTC level ($3,630). The crypto analyst states that he sought ETH/BTC to find support at 0.072 BTC ($3,394):
So the critical level to watch for Ethereum is this entire region where we have about 0.072 BTC ($3,394). And if that holds up, I think we’ll reach new heights relatively soon.
Analyst expects further rise in Cardano (ADA)
Finally, Michaël Van de Poppe highlights Cardano (ADA). Despite the lackluster performance of Cardano (ADA) last week, the crypto strategist says he expects further bullishness after it sets a new level of support following the launch of smart contracts on its blockchain:
As long as Cardano stays above the $1.90 level, I think it will continue to move. Right now, it’s finding new equilibrium after the fact that we’re launching smart contracts, and that usually goes with a slight corrective action before a move on.
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