Bitcoin below $70,000's days are numbered as traders cite the lowest point of BTC's swing as the bottom
A bullish chart pattern led bulls to set $72,000 as the new Bitcoin price target.
Bitcoin below US$70,000's days are numbered, as traders cite the lowest point of BTC's swing as the bottomMARKET
The price of Bitcoin (BTC) has been trending lower over the past two weeks, and analysts believe the pioneering cryptocurrency appears to have bottomed out in the $63,000 to $65,000 range.
“Bitcoin likely bottomed out in this area between $63,000 and $65,000,” wrote Michaël van de Poppe, founder of MN Capital, in a June 20 post on social network X.
Van de Poppe's analysis appears to have been informed by Bitcoin's modest jump from $64,950 to a high of $66,455 during the European trading session on June 20.
The analyst shared the following chart with his followers on X. It shows BTC jumping from an important demand level, indicated by the green band, which goes from $63,000 to $65,000.
Van de Poppe explained that if the price holds above this level, it will find "bullish momentum"
So cryptomaniacs, is it time to buy? 🤔
