Trader and analyst Michael van de Poppe allowed the quotes of the first cryptocurrency to fall to $25,000 if the asset does not hold above $27,000.
#Bitcoin went to $28,300, but seems a bit exhausted.
Didn´t hold above $27,700, which is now crucial if we´d like to see $30K this week.
Rejecting there and we’ll be seeing a deeper correction to $25K, most likely. pic.twitter.com/fm9fpwHed1
— Michaël van de Poppe (@CryptoMichNL) March 20, 2023
“Bitcoin has risen to $28,300 but seems to be a little tired,” the analyst noted.
The first cryptocurrency tested the marked mark on March 19 against the background of statements Fed about joining efforts with other major Central Banks to expand the provision of liquidity in dollars.
At the time of writing, the asset is trading above $27,600, up 2.9% overnight, according to CoinGecko.
The trader called the $27,700 level “critical if we want to see $30,000 this week.”
“The rejection there is likely to lead to a deeper correction to $25,000,” he wrote.
Earlier, van de Poppe predicted a move to $28,500-29,200 and then a pullback to $25,000 before continuing the rally to $40,000.
$26,800 held for #Bitcoinso continuation of the push.
I´ve mentioned this before, but I´m expecting a push towards $28,500-29,200 and then pullback towards $25K, before we´ll continue the rally to $40K. pic.twitter.com/ntW6jASZIC
— Michaël van de Poppe (@CryptoMichNL) March 19, 2023
In early March, van de Poppe noted the importance of the next few weeks for bitcoin and allowed its price to fall below the $20,000 level.
Recall that on March 17, the founder and CEO of the analytical company Messari, Ryan Selkis, predicted the growth of the first cryptocurrency to $100,000 within 12 months.
In the same month, Mike Novogratz, head of crypto trading bank Galaxy Digital, said that now is the best time to buy digital gold as a hedge against economic problems.
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