World-renowned analyst Michaël van de Poppe recently stated that crypto markets could experience a valuable correction in February and March. As in his previous assumptions, the master also successfully predicted the recent market crash. Now the renowned crypto analyst Michaël van de Poppe outlines the possible future development of Bitcoin and altcoins.
Michaël van de Poppe: Watch out for these levels for Bitcoin price now!
World-renowned analyst Michaël van de Poppe says he wants to see if BTC can stay above $47,500. Otherwise, the analyst defines the $42,000-$44,000 level to consider potential buying opportunities. Michaël van de Poppe adds:
We bought this room for around $47,500, which is the highest price ever for the leg. However, given this current structure, we’re making lower lows, we’re making lower highs… So turning around, anything random in the mid-$52k-$53k range could be a highly anticipated resistance zone. And even if we go above that we will see the previous low of $55,000… Anything below that is still a downtrend….
Michaël van de Poppe: This correction is a lesson for BTC buyers from above
Michaël van de Poppe, BTC out the peak of the last rally He says investors should take this correction as a costly lesson. Analyst Says “Don’t buy an asset that is going up linearly without a significant correction.” The analyst believes it is crucial to be patient, anticipate healthy pullbacks and identify entry points at historical support legs and resistance levels. Adds Michaël van de Poppe:
If you buy during this parabolic phase, you will be the top buyer at the end of the next bull cycle. It’s going to be a phase where the races we’ve just seen will never take a step backwards. This is the end of the bull cycle. That’s not where we are now, but it will be in a few years. This is why understanding how to enter the markets is so valuable in order to avoid huge losses on the balance sheet. So you need to stop being that FOMO type and derive entry points based on historical price action and these will almost always get you a good entry.
Michaël van de Poppe: There could be a big correction in Bitcoin and altcoins in March
Analyst, March is for crypto Markets indicates that it is usually a weak month. Michaël van de Poppe says that as long as Bitcoin stays above $29,000, the overall bull market structure will remain intact. Michaël van de Poppe supplements his explanations on the subject as follows:
We often experience a correction time in March. We got a 32% correction in 2017. We got a 45% correction in 2018. We had the entire coronavirus crash in 2020. We had a horizontal month in 2016. What does that mean? At this point, if we look at the overall structure of the markets, everything is fine. Our lowest price in the last cycle is $29,000. Considering that the 21-week moving average is still there, we shouldn’t worry at all and even if we get such a corrective break, everything is fine.
Here are Michael van de Poppe’s successful assumptions
Successful analyst Michael van de Poppe correctly assumed the altcoin season in the first quarter of 2020. Moreover, the famous analyst announced Bitcoin’s declines in past periods hours in advance. Additionally, the analyst has also achieved a high success rate in cryptocurrency adoption over the past several months. Apart from these, there are other successful master analyst crypto money claims. In conclusion, the analyst stated that he expects a valuable crypto correction in February and correctly predicted the market crash on Feb. 22.