According to KOL Michaël van de Poppe, BTC needs to regain this level to move higher
A prominent analyst says Bitcoin (BTC) needs to regain key levels to help the crypto market bounce back.
In a series of tweets, analyst Michaël van de Poppe told his 565,700 Twitter followers that Bitcoin was rejected by the market at $38,000.
“Bitcoin was rejected by the first key resistance at $38,000.
$37.6K recovery will bring momentum back.”
The source: CryptoMichNL/Twitter
Hours later, Van de Poppe outlined the key support levels for BTC at $34,000 and $36,000. He believes BTC could make a higher low here and that recovering $37.6K is the first step up.
“If I look at the bit higher time frame for bitcoin.
Rejected by critical resistance around $38,000.
Decline south, make a higher bottom at $36K or $34K.
If BTC wants to go higher -> flip $37.6k is the first step.”
The source: CryptoMichNL/Twitter
Van de Poppe suspect BTC could rise in the weeks and months ahead, but there is one major caveat.
“There could be a bounce in the short-term but any move below $37.6k will not be considered bullish.”
Bitcoin is trading at $36,737 at press time, up 2.22% on the day.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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According to KOL Michaël van de Poppe, BTC needs to regain this level to move higher
A prominent analyst says Bitcoin (BTC) needs to regain key levels to help the crypto market bounce back.
In a series of tweets, analyst Michaël van de Poppe told his 565,700 Twitter followers that Bitcoin was rejected by the market at $38,000.
“Bitcoin was rejected by the first key resistance at $38,000.
$37.6K recovery will bring momentum back.”
The source: CryptoMichNL/Twitter
Hours later, Van de Poppe outlined the key support levels for BTC at $34,000 and $36,000. He believes BTC could make a higher low here and that recovering $37.6K is the first step up.
“If I look at the bit higher time frame for bitcoin.
Rejected by critical resistance around $38,000.
Decline south, make a higher bottom at $36K or $34K.
If BTC wants to go higher -> flip $37.6k is the first step.”
The source: CryptoMichNL/Twitter
Van de Poppe suspect BTC could rise in the weeks and months ahead, but there is one major caveat.
“There could be a bounce in the short-term but any move below $37.6k will not be considered bullish.”
Bitcoin is trading at $36,737 at press time, up 2.22% on the day.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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