The well-known expert Michael van de Poppe predicts that despite recent declines in the larger crypto market, Bitcoin (BTC) and Ethereum (ETH) will continue to rise. Van de Poppe recently uploaded a video to YouTube in which he discussed key support levels and probable retracement levels for both cryptocurrencies.
Youtube Video
Retracement of Bitcoin and Important Resistance Levels
Van de Poppe believes that before continuing its upward trajectory, Bitcoin may retrace to a low of $26,600. He says that these levels must hold in order for the rally to proceed and points to the region between $26,600 and $28,000 as prospective entry zones. He stresses the value of patience, pointing out that it often takes some time for markets to recover.
The analyst also stresses the significance of a crucial resistance level for Bitcoin as an indication that the corrective move has come to an end. Van de Poppe argues that in order to reverse the trend, Bitcoin bulls must surpass the resistance level of $27,800; he notes that $28,800 is not essential.
Critical Support Level for Ethereum
As long as it trades above a key support level on the weekly period, according to Van de Poppe, Ethereum will continue to be in a macro uptrend. According to him, even if Ethereum makes a corrective move downward to $1,800, the asset could still be thought of as being in an upward trend, and the rally would still be going strong. According to analyst from coinpedia, the Ethereum price prediction could end the trade for 2023 at $2304.28.
Do you agree with Van de Poppe’s predictions for BTC and ETH?
Youtube Video
Retracement of Bitcoin and Important Resistance Levels
Van de Poppe believes that before continuing its upward trajectory, Bitcoin may retrace to a low of $26,600. He says that these levels must hold in order for the rally to proceed and points to the region between $26,600 and $28,000 as prospective entry zones. He stresses the value of patience, pointing out that it often takes some time for markets to recover.
The analyst also stresses the significance of a crucial resistance level for Bitcoin as an indication that the corrective move has come to an end. Van de Poppe argues that in order to reverse the trend, Bitcoin bulls must surpass the resistance level of $27,800; he notes that $28,800 is not essential.
Critical Support Level for Ethereum
As long as it trades above a key support level on the weekly period, according to Van de Poppe, Ethereum will continue to be in a macro uptrend. According to him, even if Ethereum makes a corrective move downward to $1,800, the asset could still be thought of as being in an upward trend, and the rally would still be going strong. According to analyst from coinpedia, the Ethereum price prediction could end the trade for 2023 at $2304.28.
Do you agree with Van de Poppe’s predictions for BTC and ETH?
