Michaël van de Poppe, a popular crypto analyst, has updated his analysis of what levels Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA) should hold, following the crypto market correction this week, and identified critical levels.
In his latest Youtube video, the trader explained that this fix is not all bad and creates a “very nice entry zone” for traders who are new to the market:
“If you look back, September’s [piyasa için] you’ll see it’s been a pretty bad month, but [piyasa] October and the rest of the year are usually pretty bullish.”
Van de Poppe says that the critical level that Bitcoin should hold at this stage is in the range of $37,500 to $40,000. The analyst believes that if BTC breaks below this level, it will retest $28,000.
However, the trader predicts that the bull cycle will continue and says that if BTC rises above $44,000, it will continue to rise.
Bitcoin is trading at $42,114 at the time of writing, according to CoinGecko.
Van de Poppe, who also examines Ethereum, says that the critical level to be considered is around $ 2,600. The analyst thinks that if it can hold this level, ETH’s bull cycle will likely continue.
Talking about Cardano (ADA), a well-performing altcoin before the recent crypto correction, Poppe said that for ADA to rise again, it needs to surpass $2.35, adding that a “big buying opportunity” for Cardano is about to begin. .
The analyst predicts that if ADA loses the level around $1.90, it could drop as low as $1.50. The crypto asset is trading at $2.10 at the time of writing.
Explaining that his crypto adventure is about to come to an end, Van de Poppe also states that he plans to leave the crypto money market completely after the next bull run.
“Am I afraid right now? No, but I’m pretty serious that the last run of this bull cycle will happen and then the financial crisis will begin. I don’t want to have any cryptocurrency when that time comes.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.