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…
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.”