Legendary Analyst: These Are Next for Bitcoin, Ethereum and ADA! - News-Credit-Mortgage-Coin

Breaking

Car donation, Insurance, Credit, Money, news

Coin Market

Wednesday, September 8, 2021

Legendary Analyst: These Are Next for Bitcoin, Ethereum and ADA!

 



Widely followed, renowned analyst Michael van de Poppe analyzes what could happen next for Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA) after the dramatic crypto market correction. Let's examine Michael van de Poppe's predictions together...


Michael van de Poppe: Sudden crashes are nothing new for Bitcoin!

In his new analysis, Michael van de Poppe believes that crashes are nothing new for Bitcoin and that the market's bull structure still looks solid.


We've seen it happen in every cycle, and we've seen it happen in those bull cycles as well. So this downstream chain reaction needs to liquidate everyone at the bottom. So every long must be liquidated, the FOMO must be killed to clear everyone out of the markets before the markets start to reverse… If we are to recover $46,700, the structure still stands. That means we're still making higher lows. $46,700 to $47,000 is a very remarkable level for me. Even if we have a chance to break above the previous support zone of $49,000, I think we have all this correction…




Michael van de Poppe: Ethereum (ETH) will continue an uptrend

Looking at Ethereum (ETH), the analyst identifies a critical support zone where ETH can sustain an uptrend. Michael van de Poppe adds the following to his comments on the subject:

If Ethereum is to close above $3,400, we are pretty sure the low is in and will continue to move from there. When we look back at the price structure, we see that we experienced these washes at the beginning.

We've seen crashes occur, we've seen crashes occur. And after that the markets turned upside down because a deep wick like this shows genuine interest from the markets and causes bias pressure.


Michael van de Poppe: Cardano should close above $2.45!

As for Cardano, Michael van de Poppe said that ADA has a strong support level at $2.00 and must close above $2.45 for the uptrend to continue. Michael van de Poppe adds the following to his comments on the subject:


We will most likely see the uptrend continue, especially if Cardano is to close above $2.45.


No comments:

Post a Comment