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Bitcoin on the Cusp of a ‘Final Correction,’ Predicts Crypto Analyst Michaël van de Poppe – Here Are His Targets

Bitcoin on the Cusp of a ‘Final Correction,’ Predicts Crypto Analyst Michaël van de Poppe – Here Are His Targets

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Source: Daily Hodle

Crypto analyst Michaël van de Poppe says that Bitcoin (BTC) could witness one last steep move to the downside.

In a new video, Van de Poppe tells his 162,000 YouTube subscribers that Bitcoin could fall by up to around 10% from current levels for the “final correction.”

According to the analyst, long-term Bitcoin bulls should see the correction as an opportunity to add to their BTC stacks.

“Bitcoin is currently at $25,000…

We’ve got a delay on the spot ETFs (exchange-traded funds) for Bitcoin. We are getting an announcement for the ETH Futures ETFs in approximately three to four weeks from now. Spot ETH ETFs are also being applied [for] at this point, so it’s a matter of time before they will be approved…

So yes, we can expect the markets to have a final correction. But this [correction] is the final one, which means that if we go to $23,000 or $24,000 when we close beneath the 200-week EMA (exponential moving average), I think that’s the final one you want to watch. Because with the fact that institutions are jumping into the markets, you should realize the markets are a must-buy opportunity overall for the long term.”

Source: Michaël van de Poppe/YouTube

Bitcoin is trading at $25,827 at time of writing.

Although Van de Poppe believes that a correction is within the realm of possibility, he notes that Bitcoin bulls could step up if the crypto king manages to stay above the 200-week EMA.

“If we’re going to close above the 200-week EMA this weekend and next week, it is a trigger that we’re going to continue going up from there.”

At time of writing, the 200-week EMA is hovering at around $24,689.

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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.

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The post Bitcoin on the Cusp of a ‘Final Correction,’ Predicts Crypto Analyst Michaël van de Poppe – Here Are His Targets appeared first on The Daily Hodl.

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Author: Mark Emem