Renowned crypto analyst Michaël van de Poppe is chasing the question of what awaits the biggest and second largest cryptocurrencies, Bitcoin and Ethereum, this week. We, at Kriptokoin.com, take a look at popular crypto strategist Michaël van de Poppe’s predictions on what awaits Bitcoin (BTC) and Ethereum (ETH) in the coming days as the global cryptocurrency market corrects.
What awaits Bitcoin (BTC)
Speaking at a new strategy session, popular crypto analyst Van de Poppe told 165,000 YouTube subscribers that Bitcoin (BTC) He said that in the short term, Bitcoin (BTC) is hovering at a significant price level that could determine its momentum. On the subject, the analyst said:
If we look at the daily time frame, we see a very important level where we find support for ourselves and it is around $41,000. This little block is technically the area you should watch, whether we get yes or no support. If that too is to be lost in the next week or the coming weeks, the entire structure is lost. [$41,000] is literally the hurdle between another test of $46,000 and potentially entering that range or falling completely below it and testing lower.
Van de Poppe says he bought Bitcoin (BTC) around $41,000, but also highlights that if the critical support area is broken, he could see a sharp move to $37,000 or $35,000. At the time of this writing, Bitcoin is trading at $41,883, down 1.20% in the last 24 hours. As for Ethereum (ETH), Van de Poppe says Ethereum (ETH) is facing heavy resistance areas and will consolidate before firing the next leg. Crypto analyst Michael van de Poppe says:
On the weekly time frame, we can see that we have two major order blocks [$3,100 and $4,000], as resistance is coming in and what we are currently rejecting is [$3,100]. In this case, I assume that unless Ethereum (ETH) regains the $3,100 level, we will have a longer period of sideways movement before we start running again.
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