Can Bitcoin whales protect BTC price from new $48K downside target?

Trader says Bitcoin buyers must hold $60,000

Bitcoin is dividing opinion at $67,000 as disappointment builds over the latest failed BTC price breakout.

After touching $70,000 earlier this week, BTC/USD once again abandoned its attempt to leave a stubborn trading range in place for many weeks.

Instead, regardless of the volatility that came from United States inflation data, the market returned to all-too-familiar territory.

Now, Brandt is not discounting the possibility of new long-term lows coming next.

“Sometimes the most obvious interpretations of a chart work out, most of the time the charts morph,” he wrote, describing BTC/USD as a “chart of interest.”

“But the most obvious is this: Break through 65,000, then mkt goes to 60,000. Break through 60,000 mkt goes to 48,000.” #BTC☀ #btcupdates2024 $BTC