⭐⭐Analyst Shares What He Expects From Now on in the Declining Bitcoin Price ⭐⭐

In his latest analysis, BRN analyst Valentin Fournier predicted that Bitcoin could retest the $62,500 support level in the near future. Fournier stated that the market is in an accumulation phase and he does not expect a major directional move at this stage.

“We think the market is currently in an accumulation period and the $62,500 support may be tested again in the near future,” Fournier said. “Since no major price movement is expected, we recommend investors reduce their exposure.”

Forecasting a more optimistic outlook in the medium term, Fournier stated that Bitcoin could exceed the $70,000 resistance level if it continues to accumulate liquidity. However, he emphasized that limited positive net flows in spot Bitcoin exchange-traded funds reflect investor indecision despite the overall positive sentiment.

Fournier also noted that one of the potential obstacles to a clear upward trend is Kamala Harris's rising chances in the US presidential elections. “Kamala Harris improving her chances in the presidential race has triggered concerns about an anti-cryptocurrency stance and a waning enthusiasm that has followed Trump's speeches and promises,” Fournier said.

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