Van de Poppe Looks Into Bitcoin And Lays Out His Trading Strategy

According to top crypto analyst and trader Michaël van de Poppe, the leading crypto asset Bitcoin (BTC) is likely going to go through a couple more dips before reinstating the bull market.

In a recent video update, the analyst shared with his 165K YouTube subscribers that he sees BTC to soon correct down to $36,000 levels, but notes that dips will help Bitcoin to eventually rise higher.

“Looking at the daily (chart)… we have been taking the resistance again, we have been taking liquidity…

That is also a recent level so then I’m assuming we’re going to have a correction towards the area around $36,000…

We get towards $41,100, we get this trend, technically you would be saying that’s a bearish flag or something, and then we reject and get ourselves down once more to take all [that liquidity], and then we are back into the bull cycle.” 

Van de Poppe notes that has plans to purchase Bitcoin if it breaks resistance and rises above $46,000 or if it collapses down to the $30,000 levels. If Bitcoin just bounces to $41,000, he will ‘de-risk’ his position, which he thinks is likely to happen.

At the time of writing, BTC trades at $41,836, up 7.45% on the daily chart.