Here’s How Bitcoin (BTC) Will Ignite the Next Leg of Its Bull Cycle, According to Analyst Michaël van de Poppe

By Daily Hodl Staff

Popular crypto trader Michaël van de Poppe thinks Bitcoin (BTC) will have to suffer through a few more dips before reentering another bull market.

In a new video, Van de Poppe tells his 165,000 YouTube subscribers that he assumes Bitcoin will soon endure a short correction towards the price area around $36,000.

The crypto analyst predicts that dips will give BTC “some fuel” to gain momentum and move up to the $40,000-$41,000 range.

“Looking at the daily (chart)… we have been taking the resistance again, we have been taking liquidity…

That is also a recent level so then I’m assuming we’re going to have a correction towards the area around $36,000…

We get towards $41,100, we get this trend, technically you would be saying that’s a bearish flag or something, and then we reject and get ourselves down once more to take all [that liquidity], and then we are back into the bull cycle.”

Van de Poppe says he plans to buy Bitcoin if it breaks above $46,000 or if it takes out a bunch of liquidity and drops down to the $30,000 range. He says he’ll “de-risk” his BTC position if it just bounces to $41,000, as he predicts that it will.

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Featured Image: Shutterstock/Jaswe/Natalia Siiatovskaia