Michael van de Poppe: Bitcoin needs to hold onto the $71000 support level

MN Trading Capital founder Michael van de Poppe posted on X platform that Bitcoin is currently at a critical price level, and if it falls below the $71000 support level, it may further retrace to below $65000. He pointed out that the 200 day moving average is around $61000, and further decline is meaningless because it will not bring good results in any market cycle. He also mentioned that the current market structure is different from the decline in February, when range resistance failed to translate into support.