Cryptocurrency Michaël van de Poppe, one of the well-known names in the world, shared his views on the withdrawals in Bitcoin. The analyst warned Bitcoin (BTC) investors and followers. Here is your analyst Bitcoin (BTC) analyses.
According to van de Poppe, the ongoing correction in Bitcoin (BTC) is not yet complete. But what about the lowest level Bitcoin can correct?
The analyst, who regularly posts videos titled “Strategy Sessions” on his YouTube channel with more than 135,000 subscribers, shared his views and analysis on the current correction in Bitcoin in his new video. According to the analyst, Bitcoin (BTC) could continue to slide lower before showing a recovery signal.
“So if we rely on the Fibonacci extension tool; The previous high, the previous low, the key figure and the key level to watch are now positioned around $57,000.
So this entire range that we have right now ($57,000 to $59,000) is actually an important area for us to see the momentum continue.”
Stating that he expects Bitcoin to continue to retreat, the analyst expects Bitcoin to rise by approximately 25-50% when it regains its upward movement despite all this.
“Right now, speaking based on the daily time frame, Bitcoin could go up to $75,000, we might see a slight reversal after a slight bearish divergence, but that’s something I’m looking at, in general, based on the daily time frame.
The next bullish wave is likely to push Bitcoin (BTC) price back to $90,000 as a bullish wave that starts from here will be based on the last impulse move with Fibonacci.”
Analyzing Ethereum against Bitcoin (ETH/BTC), he stated that he expects a move above the 0.066 BTC ($4012) level before making any investments here. Stating that if there is a movement above these levels, the analyst stated that he plans to invest long here, adding that if there is a test around 0.061 BTC ($ 3709), he will look for a higher low point to enter.
“If this level is also lost, I will look at the lows to take and from there to the next level [0.051 BTC] ($3,101) I’ll look into it. that’s why I’m not too interested in altcoins at the moment. Chances are likely there will be, but right now Bitcoin is the place to be.”
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