Cryptocurrency trading expert Michaël van de Poppe believes that Bitcoin (BTC) is destined for further correction after failing to breach the $71,000 resistance level.
In an X post on June 11, Poppe identified several critical price levels and areas of interest for investors to watch. He pointed out that Bitcoin is expected to test the support range between $64,000 and $65,000.
As per the analysis, this range is crucial as it could be a strong foundation for Bitcoin’s price to stabilize before attempting another upward move. Should the price drop below this immediate support, Poppe indicates a significant demand zone of $54,000 to $56,000.
This area is marked as a key level where buyers will likely step in, providing substantial support to prevent further declines. On the upside, Bitcoin needs to break through multiple resistance levels, with the primary resistance now set at $71,000.
Bitcoin price analysis chart. Source: TradingView/Michaël Poppe
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