Is Bitcoin Ready to Continue the Bull Market? Michael van de Poppe Comments on BTC’s Roadmap

Popular crypto strategist and trader Michael van de Poppeshared his views on two potential scenarios as Bitcoin continues to trade below $60,000.

Speaking on his 147,000 subscriber YouTube channel van de PoppeHe stated that Bitcoin will either retake $60,000 as a support level or create a ‘double-bottom’ structure at $55,000 before re-igniting the uptrend.

“At this point, we can conclude that we have made lower highs, lower lows where we retested previous levels… In this case, jumping back to support ($55,000), 60,000 dollarsWe can reach the resistance level of .

If this resistance level turns into a support, we can start to move up. If this level is rejected it is most likely to get a bullish divergence that we don’t have at the moment. $55,000A retest may come at the lowest levels of . And if such a bullish divergence were to be caught, it would be a sign of a market reversal.”

Van de Poppe, who also examines the smart contract platform Ethereum, says that ETH can go higher than Bitcoin after it manages to turn a critical resistance area into support.

Ethereum (ETH) Critical resistance is marked around $4,500. This level needs to be broken. If we break this level, I think we will continue to rise to all-time highs. Overall, it shows more strength and looking at the weekly time frame, a retest ($4,000) could occur here, which could cause the markets to continue further.”

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.

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