How long will the Bitcoin pullback last and what is the scenario later this year?

Analyst and trader Michaël van de Poppe suppose i think Bitcoin’s current correction may not have been completed yet.

In a new strategy meeting, Van de Poppe predicts that BTC could fall further before showing signs of recovery.

Source: Michael van de Poppe

“Based on Fib extensions, past highs and lows, key metrics, and price levels to watch are around the $ 57,000 mark. So you have to hold that entire range ($ 57,000 to $ 59,000) to maintain momentum. “

Although Van de Poppe predicts Bitcoin will continue to decline, he believes that the largest cryptocurrency will rise between 25-50% when it regains momentum.

“Right now, BTC could still climb to $ 75,000 based on the daily time frame, establish a slight bearish divergence, and then reverse slightly, but overall I’m looking at this based on the daily time frame.

I think the next wave of impulses will most likely push the price up to $ 90,000, as the race will from now on also be based on the most recent impulse move with Fib. “

Where will Bitcoin be at the end of the year?

Strategist Justin Bennett is watching the 2017 bull run bitcoin price chart to see where the top cryptocurrency is going next.

According to him, by comparing previous highs and lows, BTC looks “like a cheat code”. He predicts the price will hit a new all-time high of $ 80,000, followed by a jump above $ 100,000.

“The 2017 fractal explains the decline this week. Each move in the current cycle is a little easier than 2017. The price has fallen 13% since then. That could be an 8-10% pullback or $ 60,000. Then it hit $ 80,000 or more in early November, tested $ 65,000 again in mid-November, and jumped to $ 100,000 in December. “

The source: Justin Bennett

“It’s like a cheat code *. As long as it doesn’t go astray. “

* Cheatcode, or cheatcode, is the code, command … added by the manufacturer to change some game features and help players break through the island more easily.

Next, Bennett zooms in on the BTC candlestick chart to show a pullback reflecting the fall in prices in 2017.

“This is the BTC drop I mentioned. The next support zone is at $ 58,000 to $ 60,000. Bitcoin must recapture the $ 64,000 region to resume the uptrend. “

The source: Justin Bennett

Ultimately, the analyst plans a path for the price of Bitcoin to climb above the $ 100,000 mark to the $ 200,000 mark or higher by early January next year.

“I think that’s more likely.”

The source: Justin Bennett

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