Analyst Michaël van de Poppe Outlines Key Levels To Watch After Bitcoin and Ethereum’s Big Breakouts


Popular trader and crypto strategist Michaël van de Poppe is revealing key price levels that he believes will determine the short-term fate of Bitcoin and Ethereum.

In a new YouTube video, Van de Poppe tells his subscribers that while he is long term bullish on Bitcoin, there are critical support levels that the flagship cryptocurrency must hold in the short term in order to continue its ascent to higher highs.


“The higher timeframe chart for Bitcoin is showing a very massive move. It’s showing that we still have much more to gain as well, and it shows that the 2017 Bitcoin bubble was just a minimal one as we are currently in the real big super cycle…

I would prefer to hold this level here between 47.5 and 48.4 for support. If that sustains support, we most likely continue grinding and then the target zones that I have described – $53,000 and $63,000 – are very likely to be hit.”

If the $47,500 level is lost, Van de Poppe says BTC is likely headed south towards $44,000. From there the trader believes the asset will either plunge further down, retesting the $38,000 level, or it will break back up towards previous resistance around the $48,000 range.

As for Ethereum and the altcoin market at large, Van de Poppe notes that their movements appear to be following Bitcoin for now.

If Bitcoin starts to correct, most likely altcoins will correct more… The level to watch for Ethereum is this zone here, between 0.0295 and 0.032 sats. If that holds, we get another higher low. Basically, you don’t want to see it drop below. 0.025 sats. But if we get in those regions, I’m eager to look for a new long entry on Ethereum, and I’m eager to suspect that… we’re going to make a big break later on this year.” 

The trader predicts that if Ethereum holds the aforementioned prices, it could reach $4,000-$5,000 this summer.

Van de Poppe expects that the Bitcoin dominance chart will see a correction over the next 4-5 weeks, causing altcoins to suffer in their BTC pairs until the spring.

“It might be taking three, to four, to five weeks until we get into this area here for the dominance chart of Bitcoin (68.21). That is the moment you are going to want to be exposing yourself heavily to altcoins again.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dave Massey


Leave a Comment

Your email address will not be published.

You may also like

Bitcoin Latest Tech

Bitcoin trader explains why BTC outperforming Ethereum is just ‘simple math’

Bitcoin (BTC) has been outperforming Ether (ETH) in the past several days as BTC surged above $50,000 for the first time in history. Meanwhile, one popular cryptocurrency trader explains that this is “simple math” given the growing institutional demand for BTC. 

BTC vs. ETH (orange) performance in February. Source: Tradingview

While ETH is beating BTC in USD terms year-to-date, Bitcoin is gaining steam in February, up 60% compared to Ether’s 50%. 

Ether did rally by roughly 6% over the last 24 hours as Grayscale added 20,000 ETH to its Ethereum Trust. However, Grayscale’s BTC stash is worth $34 billion, which dwarfs its ETH holdings of $5.8 billion.

Grayscale ETH Trust flows. Source:

More institutional demand for Bitcoin vs. Ether

Meanwhile, a pseudonymous trader known as Bitcoin Jack noted that despite these latest ETH inflows, one single entity, namely MicroStrategy, is adding 20,000 BTC worth almost $1 billion to…

View More Article
Bitcoin Blockchain

The Graph adds support for Polkadot, NEAR, Solana and Celo

Following its mainnet launch on Ethereum in mid-December 2020, The Graph has today announced that it is integrating Polkadot, NEAR, Solana and Celo.

As reported, The Graph is a protocol that enables programmers to build Application Programming Interfaces, which it calls subgraphs, that can query and index blockchain data. Envisaged as an open alternative to existing blockchain analytics tools, it offers an infrastructure for accessing on-chain data from multiple blockchains, with the wider aim of supporting collaboration and interoperability across the decentralized web.

Eva Beylin, director at The Graph Foundation, has underscored the need to work toward making Web 3.0 as developer-friendly as Web 2.0. As the foundation notes, using a subgraph doesn’t require developers to have specialist knowledge about the numerous blockchains’ many unique and different properties, for example, their underlying smart contract language. 

The Graph already supports the blockchains Ethereum, IPFS and POA and supports the InterPlanetary File…

View More Article
Bitcoin Blockchain Business Investment

Algorithmic stablecoins aren’t really stable, but can the concept redeem itself?

Amid the meteoric rise of decentralized finance in 2020, there was persistent interest in a class of coins popularly dubbed “algorithmic stablecoins.” Some of the more famous ones include Ampleforth (AMPL), Based, Empty Set Dollar (ESD) and Dynamic Set Dollar (DSD).

While these tokens are commonly considered algorithmic stablecoins, the teams involved have their own definitions. For MakerDAO, an algorithmic stablecoin is one that uses total supply manipulations to maintain a peg. The founders of Empty Set Dollar and Neutrino, a Waves-backed stablecoin project, believe Dai is also an algorithmic stablecoin due to its programmatic mint-and-burn mechanics. Ampleforth’s team, on the other hand, rejects the notion that its token is a stablecoin.

It is relatively clear that the assets falling under MakerDAO’s definition show little stability. For example, ESD’s all-time high and all-time low are $23.88 and $0.174, respectively, according to CoinGecko. Ampleforth’s…

View More Article
Bitcoin Policy & Regulation

Another crypto firm hit with fines for violating U.S. sanctions

BitPay will have to pay the U.S. Treasury’s Office of Foreign Asset Control over half a million dollars for crypto services to sanctioned regions. 

In a Feb. 18 announcement of the settlement, OFAC said that BitPay had facilitated “approximately $129,000 worth of digital currency-related transactions with BitPay’s merchant customers” by users from Crimea, Cuba, North Korea, Iran, Sudan and Syria — effectively the full range of geographical sanctions that OFAC has in place. 

OFAC repeated that crypto firms need to align themselves with sanctions programs, saying: 

“This action emphasizes that OFAC obligations apply to all U.S. persons, including those involved in providing digital currency services.”

The 2,102 transactions that OFAC cites reportedly occurred between 2013 and 2018, during which time the office says that BitPay, which provides crypto-enabled transactions between customers and merchants, screened only merchants.

Despite adding IP address info about customers in 2017, OFAC says that BitPay did not analyze…

View More Article
Bitcoin Blockchain Investment Latest Tech

‘I’ve taken a neutral view’ on Bitcoin, says Bill Gates

Microsoft co-founder Bill Gates is the latest prominent tech figure to seemingly try to stay out of the fray when it comes to questions about Bitcoin adoption.

In an interview with CNBC’s Squawk Box this morning, Gates said he had neither invested in Bitcoin (BTC) nor wanted to make a prediction on any price movements.

“I don’t own Bitcoin, I’m not short Bitcoin, so I’ve taken a neutral view,” said Gates. “Bitcoin can go up and down just based on the mania or whatever the views are. I don’t have a way of predicting how that will progress.”

However, the Microsoft co-founder…

View More Article

As faith in audits falter, the DeFi community ponders security alternatives

As the attacks launched against popular decentralized finance (DeFi) protocols grow ever-more complex, the efficacy of audits from major security companies have in turn come under scrutiny — and some members of the DeFi community have already begun building homegrown alternatives.

“I think that now, after all the hacks we’ve had, we basically understand that if you have two audits, three audits, it doesn’t mean you’re safe,” said the co-founder of DeFi Italy Emiliano Bonassi in an interview with Cointelegraph. “This does not mean that audits have no value in this moment, but they are not silver bullets.”

This new reality is what pushed Bonassi to form ReviewsDAO. A simple forum for connecting security experts and projects looking for an extra set of eyes, in the three days since its launch ReviewsDAO has already attracted four volunteer reviewers (including Bonassi), and has matched two reviewers with a project.

View More Article
%d bloggers like this: