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A popular crypto analyst outlines Bitcoin levels (Bitcoin) should be held to avoid a further plunge in prices.
In a new YouTube video, crypto strategist Michael van de Poppe tells his 165,000 subscribers that BTC needs to hold around $19,300 “to avoid nukes” .
“Because if we lose $19,300, it’s likely that we’ll briefly break below $18,500 and make new lows, especially after the last candlestick. That’s going to be tough for us.
This is the final support and if this support doesn’t actually hold or doesn’t hold at all, it is very likely that there will be another significant drop from $17,500 to $18,500. Please support there. “
Van de Poppe said Bitcoin is US Federal Reserve Board Next week, traders and investors will get more information on the direction of risky assets such as Bitcoin and cryptocurrencies.
“Next week is the Fed’s meeting. I won’t be [surprised] We can slide a bit or keep consolidating until we get a feel from the Fed.
Bitcoin is trading at $20,044 at the time of writing, flat on the day but down nearly 7% over the past week.
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Featured Image: Shutterstock/DanieleGay/Natalia Siiatovskaia
