Famous analyst Michaël van de Poppe made an important statement for Bitcoin BTC to his followers on Twitter today. There is an important level in the analyst’s target. Also, this level is in a critical state. Let’s take a look at the details.
There's a level which #Bitcoin must hold in order to avoid a significant crash.
Bitcoin is currently holding onto a significant level of support. It's around the $25,500 barrier.
In the meantime, we're facing a month of destruction. September. What's next for Bitcoin? 👇… pic.twitter.com/nNI8GmxKuN
— Michaël van de Poppe (@CryptoMichNL) September 7, 2023
Bitcoin BTC’s critical support of $ 25,500
Bitcoin, the flagship of cryptocurrencies, is currently clinging to a vital support level at around $25,500. According to the analyst, this level holds the key to avoiding a significant market crash. On the other hand, the analyst provides details for Bitcoin as it faces the September challenge. Accordingly, the crypto market is preparing for September, which has historically been a turbulent month. On the other hand, Bitcoin enthusiasts are wondering what awaits the digital currency.
Analyzing historical trends, the analyst says that looking at it from a historical and cyclical perspective can shed light on the current situation. August and September in particular have proven to be challenging months for Bitcoin, especially in the pre-halving years. For example, in August 2015, the market experienced a significant correction. Accordingly, Bitcoin approached the 200-EMA (Exponential Moving Average). But it never closed below that. Similarly, in August 2019, Bitcoin faced a significant correction. This was followed by a smaller correction in November of the same year.
drawing parallels with 2015
When examining the current state of the market, especially with the influx of new institutional participants, parallels can be drawn with the 2015 cycle. In this context, it is possible to consider the current correction as the final correction. On the other hand, according to the analyst, surviving in September means an investment strategy for Bitcoin. The key question that arises is: How will investors weather this turbulent month? The analyst seeks the answer to this question. It also asks one more question. What is the optimal investment strategy to weather the storm and emerge with long-term gains?
According to the analyst, it is important for Bitcoin BTC to hold above the critical $25,500 support level. Accordingly, he will play a very important role in determining his fate in the coming weeks. As September progresses, it is crucial that Bitcoin maintains its resilience to avoid a significant crash. On the other hand, when we look at it as cryptokoin.com, getting through September with Bitcoin’s critical support intact can lay the groundwork for long-term success in the cryptocurrency market. Investors are moving to benefit from potential opportunities in this dynamic and ever-evolving field. One should also keep a close eye on the $25,500 level when evaluating various investment strategies.
