Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe says Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are on the verge of bouncing back in the market.
He says that Bitcoin could be on the way to $31,800 after holding the $30,000 price.
Already filled a bit on $BTC, but would be looking to see whether we close CME gap here and bounce from there.
— Michaël van de Poppe (@CryptoMichNL) June 3, 2022
Makes a lot of sense. pic.twitter.com/GgBPaAtTyI
“Bitcoin held the $30,000 level, so long would still be intact from the $29,300 region. Now flipping $30,300 would be continuation towards $31,800 possible,” says Van de Poppe.
Also Read: Crypto Trader Who Warned Bitcoin Would Break Under $30K, Now Predicts New 52-Week Low
Talking about the ETH, he says it is near a “potential bounce play.”
Still interesting territory for $ETH here.
— Michaël van de Poppe (@CryptoMichNL) June 3, 2022
If this doesn't hold, $1,575 next. pic.twitter.com/DLsssYB2Z5
“Waiting for the $1,720 region on ETH for a potential bounce play. The same goes for BTC, around $29,000 after this harsh rejection,” he adds.
Earlier, he had predicted that ETH could even top $20,000 in 2022.
At the time of writing, BTC was trading at $29,555, up 1.95% in the last seven days. Meanwhile, Ethereum was at $1,763, down 0.95% in the last week.
