Here’s What Bitcoin (BTC) Must Reclaim To Become Bullish, According to Crypto Analyst Michaël van de Poppe

One popular crypto analyst says Bitcoin (BTC) must reclaim a specific price level to turn crypto markets bullish again.

In a series of tweets, crypto trader Michaël van de Poppe tells his 565,700 Twitter followers that the markets rejected Bitcoin at $38,000.

“Bitcoin rejected on the first crucial resistance at $38K. 

Reclaiming $37.6K would be something, not expecting it.”

Hours later, Van de Poppe confirmed the $38,000 rejection while highlighting BTC support levels at $34,000 and $36,000. Van de Poppe also names the first step towards entering a bull market – flipping the $37,600 resistance to support.

“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 [the] first step.”

Van de Poppe predicts a possible BTC bounce in the coming weeks and months, but with a major caveat.

“Might have a short-term bounce, but anything sub $37.5K isn’t shouting for bullishness.”

Bitcoin is trading for $36,037 at time of writing, down 3.22% on the day.

Check Price Action



Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

The post Here’s What Bitcoin (BTC) Must Reclaim To Become Bullish, According to Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.

Source: https://dailyhodl.com/2022/01/27/heres-what-bitcoin-btc-must-reclaim-to-become-bullish-according-to-crypto-analyst-michael-van-de-poppe/