A widely followed crypto analyst has updated his forecasts for the two leading crypto assets, Bitcoin and Ethereum, as the markets collapsed.
Earlier in the day, crypto trader Michaël van de Poppe told his 613,900 followers that Bitcoin (BTC) should hold the $19,300 zone as ultimate support. warned.
“We are unable to maintain support in Bitcoin and we are looking at the next (support) $19,300 region…
I’m interested in seeing the price reaction here, but I’m looking forward to more confirmation overall before entering long positions.”
Van de Poppe then shared a chart theorizing what BTC should do to confirm bullish divergence.
“Bitcoin is probably looking for something like this to confirm positive divergences on higher timeframes as well.”
Bitcoin is currently trading at $19,104, below the $19,300 level highlighted by Van de Poppe, while the trader updated his followers with a grim prediction regarding the chart above.
“This situation may happen, but things are not looking good.”
Koinfinans.com As we reported, Bitcoin seems to be floundering with the rest of the crypto markets, with the leading coin dropping 5% in the last 24 hours.
Van de Poppe then turned his attention to the leading smart contract platform Ethereum (ETH), which fell nearly 50% last month. This morning, Van de Poppe made a prediction that ETH would drop to $1,060 if $1,140 is not protected.
“The area that matters to me in ETH is the area between $1,140-1,170. If we want to see more upward momentum, we need to see it continue. If not -> the next $1,060 area.”
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.