Popular crypto strategist Michaël van de Poppe shared his predictions for Bitcoin (BTC) and Ethereum (ETH). While predicting a pullback for ETH, the analyst said that Bitcoin is laying the groundwork for a new rally. Here are the details.
In a recent strategy session, Van de Poppe told his 165,000 YouTube subscribers that he expects bullishness after BTC broke the resistance around $45,000.
“Since we are out of this two-month range, it seems highly likely that we will move up and find ourselves in the next range. This area between $46,000 and $51,000 is the next area we can expect to continue.”
A new Twitter in your post Van de Poppe noted that while showing some signs of weakness, the largest crypto asset by market cap still looks strong as long as Bitcoin stays above $44,700. Also evaluating the leading altcoin Ethereum, Van de Poppe stated that the top smart contract platform is ready to breathe after a strong rally from the 2022 low of $2,159.
“We do high lows (when the price doesn’t go below the low but rises with some up and down price action every now and then). We are continuing the momentum towards the next resistance zone as we have eliminated the previous highs and surpassed the last high. The next resistance area can be found near $3,600 and there is one at $3,800.
I didn’t expect it to break that resistance in one go. Here too, a minor bearish divergence is being created and it is currently hovering at the critical support level ($3,400). If this is lost, I assume we will retest $3,100.”
With the latest correction, crypto analyst Van de Poppe said that the bearish trend is starting to emerge.
“Ethereum looks poised for a deeper connection, based on the weakness of the run + negative mismatches that are potentially ready to end.”
You can check the price movements here.
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.