Cryptocurrency trader and analyst Michaël van de Poppe (Crypto Michael) believes the correction is not over for both Bitcoin (BTC) and Ethereum (ETH).
Van de Poppe told his 80,000 Twitter followers that he was in a position to drop BTC to $ 9,500 as the bears managed to build and maintain resistance one after another. Crypto Michael used the following statements:
“Each resistance level gets a confirmation similar to the current resistance zone (red block). If this is broken, 11 thousand 200-11 thousand 400 dollars can be reached. However, if we reverse here and a potential cycle occurs, I aim for levels of 9,500- 9,800 dollars.
Ethereum May Also Decrease
The cryptocurrency strategist also predicts a short-term decline in Ethereum. ETH could fall to the $ 250-280 level. ETH was trading at $ 338 at the time of writing. Crypto Michael also made the following statements about ETH:
“A further downward momentum is expected here. The important area I have been interested in for a while is 250-280 dollars. “