Despite not yet returning to the levels above $44,000 it briefly reached earlier this month, Bitcoin (BTC) seems to have resumed its bullish advance, and its next step could be to test the area right below $50,000 ahead of the approval of the first spot Bitcoin exchange-traded fund (ETF).
Specifically, Bitcoin tested the lows successfully and did not take the liquidity beneath the lows, and now the correction looks to be over, as per a chart analysis shared by cryptocurrency expert Michaël van de Poppe in an X post published on December 19.
According to the crypto market analyst, the flagship decentralized finance (DeFi) asset is likely to test the zone between $47,000 and $50,000 right before the spot Bitcoin ETF approval by the United States Securities and Exchange Commission (SEC), so he advised his followers to “buy the dips.”
Bitcoin price action analysis and projection. Source: Michaël van de Poppe
Bitcoin price analysis
Meanwhile, Bitcoin was at press time changing hands a
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