Popular cryptocurrency analyst Michael van de Poppe says Bitcoin (BTC) could hit new lows if it fails to sustain critical support levels.
In a new YouTube strategy session video, Van de Poppe tells his 163,000 YouTube subscribers they need to buy support to keep Bitcoin above $16,750.
“The key is the $16,750 level. If you want something, you obviously have to keep it there.
If the market doesn’t surge above $16,700, we’re probably seeing new lows. And looking at altcoins, they clearly share the same view. ”
Bitcoin is trading at $16,834 at the time of writing.
Van de Poppe also said Ethereum (ETH) and Litecoin (LTC) may be heading towards lower price targets.
“ETH is not continuing its rally at the moment, which means we are looking at $1,220 to $1,230 if we can’t pick up the pace.
So is Litecoin. From $71 he sees a balance around $72 if Litecoin does not pick up the pace and clearly rejects $76 and starts to move lower. ”
At the time of writing, Ethereum is trading at $1,254 and Litecoin at $75.33.
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