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Looking forward, Ret Capital anticipates that Bitcoin may retest the $33,000 level, considering historical reaccumulation patterns. This level is deemed crucial, representing a generational support that has played a pivotal role in Bitcoin’s price history.
He also suggested that a potential pre-halving retracement to $33,000 could present a significant buying opportunity. However, the analyst opens up about the possibility of slight deviations below this level, stressing that any price below $33,000 could be a compelling entry point for investors seeking a discount.
Bitcoin’s price, which had risen above $44,000, is currently undergoing a correction phase. A recent weekly report from CryptoQuant suggests that the rapid surge in Bitcoin’s price has prompted the need for a correction. Despite a slight 10% dip from its recent peak, CryptoQuant remains optimistic, stating that the bear market is over, and Bitcoin has shifted into a bullish phase. #BinanceTournament #BTC #SATS #BinanceWish $BTC $ETH $BNB