Sharp Bitcoin Pullback Is Not Over, Predicts Crypto Analyst Michaël van de Poppe – Here’s How BTC Could Go Down

0
24
Sharp Bitcoin Pullback Is Not Over, Predicts Crypto Analyst Michaël van de Poppe - Here's How BTC Could Go Down

 

So this entire range ($57,000 -$59,000) that we’ve got here is actually the area that I want to see sustained in order to keep the momentum going.”

“Right now, based on the daily time frame, we could still run all the way towards $75,000, get a slight bearish divergence and then make a slight reversal, but overall, this is what I’m looking at based on a daily time frame.

Although Van de Poppe expects Bitcoin to continue its pullback, the crypto trader believes the largest cryptocurrency to surge between 25%-50% once BTC regains its bullish momentum.

Story Highlights

  • In a new strategy session, Van de Poppe tells his 136,000 YouTube subscribers that BTC could drop further before the leading crypto asset can show signs of recovery.

  • “So based on the Fibonacci extension tool, the previous high, previous low, key figure and key level to watch become the area around $57,000.

I think the next impulse wave is most likely going to bring the prices all the way back towards $90,000, as that is the next run from here also based on the recent impulse move with Fibonacci.”

Looking at Ethereum against Bitcoin (ETH/BTC), Van de Poppe wants to see the pair move above 0.066 BTC ($4,012) before taking any entries.

“If we do have a reclaim above this level [0.066 BTC], I’m going to be interested in longs. If we drop all the way back down and we get a test around 0.061 BTC ($3,709), I’m looking at a higher low to take the entry. If that is lost, then I’m going to look at lows that are going to be taken, and I’m going to look at the next level here [0.051 BTC] ($3,101).

So right now, I’m not really interested too much yet into altcoins…The chances will be there, but Bitcoin is first taking the actual spot at this point.” I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Follow us on Twitter, Facebook and Telegram

  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Check Latest News Headlines Surf The Daily Hodl Mix