Michaël van de Poppe Draws Key Levels For Bitcoin To Return Bullish
Michaël van de Poppe, a leading crypto market analyst and trader, looks into Bitcoin’s (BTC) recent price movement and identifies key resistance and support levels for the leading digital asset.
Van de Poppe shared with his 565,700 Twitter followers that the bulls were unable to push Bitcoin past $38,000.
“Funny how it goes.
People got stopped on both sides as liquidity was taken and the actual move occurred at the end of the speech.
Bitcoin rejected on the first crucial resistance at $38K.
Reclaim $37.6K would be something, not expecting it.”
Funny how it goes.
People got stopped on both sides as liquidity was taken and the actual move occurred at the end of the speech.#Bitcoin rejected on the first crucial resistance at $38K.
A little later, the analyst highlighted again rejection at $38,000 level, and drew key support levels at $34,000 and $36,000. Van de Poppe also identified an important level $37,500 that should be flipped to support in order to re-enter a bull market.
“When we’re looking at a bit higher timeframes for Bitcoin.
Rejected at the crucial resistance around $38K.
Dropped south, making important support levels $36K and $34K.
If we want to become bullish -> Flip $37.6K is first step.”
When we're looking at a bit higher timeframes for #Bitcoin.
Rejected at the crucial resistance around $38K.
Dropped south, making important support levels $36K and $34K.
The analyst continues that while near-term bounce is possible, Bitcoin really should find support above $37,500.
“Bitcoin rejected at $38K and hit the first important level of support at $36K here. Might have a short-term bounce, but anything sub $37.5K isn’t shouting for bullishness.”
#Bitcoin rejected at $38K and hit the first important level of support at $36K here.
Might have a short-term bounce, but anything sub $37.5K isn't shouting for bullishness. pic.twitter.com/cDXR5AEroM
