An analyst who anticipated a significant crypto correction in February is mapping out his key price levels for the top two digital assets by market cap.
In a new strategy session, Michaël van de Poppe highlights the fact that Bitcoin has historically witnessed red candles in February and March, with significant pullbacks unfolding this time of year in both 2018 and 2020.
The trader is now watching to see if Bitcoin maintains support between $50,800 and $52,500.
If BTC breaks below that region, van de Poppe says his personal “buy the dip” area is likely in the $32,000 to $38,000 region.
Source: Michaël van de Poppe
As for Ethereum, the analyst says he’s looking for a drop against Bitcoin (ETH/BTC) to the .032 to .029 area, which is currently at about $1,700 to $1,530.
Van de Poppe notes that the