Van de Poppe: Bottom Is In For Ethereum (ETH), Bitcoin (BTC) And VeChain (VET)
According to Michaël van de Poppe, a leading crypto market analyst, Ethereum (ETH), Bitcoin (BTC) and VeChain (VET) have bottomed out.
Ethereum (ETH)
Van de Poppe shared with his 533K Twitter followers that Ethereum’s (ETH) current retest of the $3,600-$3,700 level signals a likely upward continuation.
“I think the correction is done on Ethereum in which we’ve seen a few beautiful retests.
I’m expecting this scenario to play out.”
I think the correction is done on #Ethereum in which we've seen a few beautiful retests.
At the time of writing, ETH is currently trading at $3,980 with 1.5% loss on a daily chart.
Bitcoin (BTC)
Van de Poppe compares Bitcoin’s current market structure to BTC’s pattern during the September correction, which look very similar. Should BTC repeat the pattern, it should start rising very soon.
“Pretty much copy/paste of the September bottoming here.
Given the low impact of the Fed meeting on prices, I assume that we’ll see price accelerate too if it cracks crucial resistances.”
Pretty much copy/paste of the September bottoming here.
Given the low impact of the FED meeting on prices, I assume that we'll see price accelerate too if it cracks crucial resistances. pic.twitter.com/XRJQxt2qFo
‘Fed meeting’ which the analyst refers to is the Federal Open Market Committee (FOMC) meeting on interest rates, inflation and asset purchase tapering that took place on December 14.
At the time of writing BTC trades at $47,840 with 2.2% loss on a daily chart.
VeChain (VET)
The analyst also looks into the enterprise solution blockchain VeChain’s (VET), which he believes has bottomed, but is not yet ready for a breakout.
