Bitcoin and Ethereum to Continue the Bullish Trend – Michael van de Pope
According to popular analyst Michaël van de Poppe, the recent correction in the cryptocurrency market has not dampened the long-term bullish outlook for Bitcoin and Ethereum.
In a YouTube video update, van de Poppe predicts that Bitcoin may retrace to a low of $26,600 before resuming its upward trajectory.
He notes that Bitcoin must break through a key resistance level of $27,800 to signal the end of the corrective phase and trigger a new bullish trend. Currently trading at $27,547, Bitcoin is approaching this crucial level.
Same old, same old for #Bitcoin.
Isn't able to break through $27,800 as resistance point.
Would be looking at a sweep of the lows until we can have a bounce.
However, $27,800 is crucial for a trend reversal, not $28,800. pic.twitter.com/7U7MS1lcus
— Michaël van de Poppe (@CryptoMichNL) April 24, 2023
Van de Poppe also provides a positive outlook for Ethereum, stating that it is still in a macro uptrend as long as it remains above a critical support level on the weekly timeframe.
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He suggests that even if Ethereum experiences a corrective move towards the $1,800 level, it could still be trending upwards. At the time of writing, Ethereum is valued at $1,844.
Overall, van de Poppe believes that both Bitcoin and Ethereum are poised for continued growth in the long run, despite recent volatility in the broader cryptocurrency market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
