Bitcoin lost its bullish momentum after reaching the $36,000 level. BTC rallied as high as $36,800 and started a decline from there.

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Michaël van de Poppe, one of the leading cryptocurrency analysts, evaluated the latest situation in Bitcoin. Saying that a retest is good at this stage, the analyst says that Bitcoin should hold around $35,000 to protect it from a downward pressure.

He says that if Bitcoin fails to hold at this level, the level of $ 33,000 will be in question. If it manages to hold on, he thinks it is likely to test $38,000.

Bitcoin is trading at $ 35,022 at the time of publication.