Crypto analyst Michaël van de Poppe, who predicted that February and March could witness a significant correction in the crypto markets, is mapping out Bitcoin’s possible trajectory moving forward.
The analyst says he’s looking to see if BTC can remain above $47,500. If not, he defines the $42,000 to $44,000 level as an area to keep an eye on for potential buying opportunities.
“We’ve got this area around $47,500, which is the previous high that could be granting for support. However, given this current construction, we are making lower lows, we are making lower highs…
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So if we grind back up, anything between $52,000 and to $53,000 could be a very likely resistance zone. And even if we are breaking above that, the previous lower high is $55,000, anything beneath that is still a downwards trend.”
Van de
