Bitcoin and Ethereum are About to Take Back Bull Market

Bitcoin and Ethereum are recovering to resume the bull market again

Despite market corrections, Bitcoin is surrounded by optimistic forecasts. Daily Hodl publication stated that crypto strategist and trader Michaël van de Poppe is currently analyzing two possible scenarios for Bitcoin as King’s coins continue to trade for less than $60,000.

Van de Poppe tells his 147,000 YouTube followers in a new strategy session that “At this point, we can just conclude we’re making lower highs, lower lows, in which we retest previous levels… In this case, we got towards support ($55,000), bouncing back up [and now at] crucial resistance zone ($60,000)”, Van also added “If that flips [into support], we can start continuing upwards. If it rejects, then we’re most likely going to get a retest around the lows $55,000 to get a bullish divergence, which we don’t have right now. And if we’re going to get such a bullish divergence, that is going to be a sign that the market is going to reverse from here”.

Van de Poppe also made a point of emphasizing that ETH appears to be more optimistic than Bitcoin. This is occurring after it successfully converted a key resistance region to support, and he said “Crucial resistance for Ethereum is the level around $4,500. That one has to break. If we do break through that level, I think we’re going to continue towards new all-time highs”.

However, BTC is trading today in the red and the coin is priced at $57,147.45 while ETH is also trading in red but in $4,214.13 price. which shows that both coins are continuing to be surrounded by optimistic predictions.

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