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๐ Bitcoin Price Prediction: Market Reset Complete, Bullish Relief Fades; Next Target: $70K: ๐ฑ๐ฑ๐ฑ ๐๐๐๐
๐ข Bitcoin is once again at a crucial support level, facing a critical test that could shape its short-term future. Analysts are closely watching as Bitcoin repeats familiar patterns, hinting at the possibility of a major move.ย
๐ฅ Analyst Josh of Crypto World said that Bitcoin has been in a bearish trend, as indicated by the Super Trend indicator on the 4-day chart. This trend is characterized by lower highs and lower lows, suggesting a continuation of downward pressure. However, within this bearish trend, Bitcoin has found temporary relief, bouncing off a significant support level.
Over the past week, Bitcoin has been experiencing a โbullish reliefโโa temporary rebound in price following a period of oversold conditions. This bounce is not uncommon during bearish trends, where brief upward movements or sideways price action occur as the market resets.
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Bitcoin Price Prediction: Market Reset Complete, Bullish Relief Fades; Next Target: $70K
Author: ๏ปฟAnjali Belgaumkar
Aug 11, 2024 10:25
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Bitcoin Price Could Target $95K
Bitcoin is once again at a crucial support level, facing a critical test that could shape its short-term future. Analysts are closely watching as Bitcoin repeats familiar patterns, hinting at the possibility of a major move.
Analyst Josh of Crypto World said that Bitcoin has been in a bearish trend, as indicated by the Super Trend indicator on the 4-day chart. This trend is characterized by lower highs and lower lows, suggesting a continuation of downward pressure. However, within this bearish trend, Bitcoin has found temporary relief, bouncing off a significant support level.
