Senior strategist outlines way forward for Bitcoin, Ethereum and XRP after major market correction


Trader and analyst Michaël van de Poppe outlines possible scenarios for Bitcoin (BTC), Ethereum (ETH) and XRP after the big correction in the crypto market.

The crypto tells its 75,000 Twitter followers that it expects BTC to stay above a crucial $ 10,000 support line.

“Bitcoin – well, liquidity at its lowest. A $ 10,000 recovery would mean an S / R reversal and a very likely chance that we are looking for liquidity above the highs of the range. That would be fine for a rebound to $ 10,750-10,900 and the majority of markets would rebound 25-40%. “

Source: Van de Poppe / Twitter

As for Ethereum, Van de Poppe still believes in the coin’s long-term bullish potential, even amid the steep correction.

«ETH is one of the pieces that you would like to keep for years to come. The lower the better.

While the trader remains optimistic that ETH will eventually return to its bullish tone, he does not rule out the possibility that the second largest cryptocurrency could drop below $ 300.

“What level should Ethereum hold?” Obviously, that’s the $ 245 area. If we get into that zone, it could be the longest opportunity of a lifetime, if we get closer to the weekly level around $ 245. ”

If Ethereum hits support at $ 245, Van de Poppe says the pullback could set the coin for a major rally at $ 800.

Meanwhile, van de Poppe is eager to buy the dip in XRP.

The fourth largest cryptocurrency hit its first buy target at $ 0.2458 in the middle of a retracement, and Van de Poppe is looking at support at $ 0.21245.

«XRP It takes years, but we will get there.

Source: Van de Poppe / Twitter
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Image en vedette: Shutterstock / rangizzz


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