A new post has come from crypto analyst Michael van de Poppe, who is closely followed by investors with his analysis of Bitcoin and altcoins.
The analyst, who studies Bitcoin and Ripple (XRP), shared the important levels in these cryptocurrencies.
Evaluating Bitcoin first, Poppe said that the critical resistance level of $ 27,500 must be broken in order for the rise in BTC to continue up to the $ 30,000 levels.
Thinking that BTC will most likely break the $27,500 resistance, the analyst argued that $26,000 is a sufficient and correct level for long-term BTC investments.
“There are two important levels for me on Bitcoin.
For BTC to continue towards $30,000, the $27,500 resistance must be broken. Most likely, Bitcoin will achieve this and $ 27,500 will be broken.
I think $26,000 is sufficient for potential long entries as well.”
Bitcoin, which has risen above $ 27,000, is trading at $ 26,840 at the time of writing.
Two levels of importance for me on #Bitcoin.
Resistance at $27.5K needs to break for continuation to $30K. Most likely we will.
Potential long entries? I think around $26K is sufficient. pic.twitter.com/c5N13jIWQd
— Michaël van de Poppe (@CryptoMichNL) June 20, 2023
Secondly, examining XRP, one of the popular altcoins of recent days, Poppe stated that he expects the level of $ 0.47 in XRP to be support.
According to the analyst, if the $0.47 level is not supported, the $0.41 or $0.42 levels could be tested before seeing upside moves in XRP.
“We expect to see $0.47 as support in XRP.
If this level is not support, some upside movements can be seen. So, we will see a situation where $0.41 or $0.42 can be tested in XRP before we see any upside movements.”
XRP is at the level of $ 0.4840 at the time of writing.
Request 01 – $XRP
This scenario is still making sense.
Heavy sweep after the Hinman emails.
Expecting to see $0.47 hold as support, otherwise we'll be seeing a case where we'll test $0.41-0.42 before we'll see some reversal or upwards movements. pic.twitter.com/RhtXV1DZ3B
— Michaël van de Poppe (@CryptoMichNL) June 20, 2023
