Bitcoin is setting up 'meaningful floors' in $60K–$70K range: Analyst
Bitcoin’s $6000–$70,000 cost-basis cluster hints at a bottom, but a bearish daily flag keeps BTC exposed to a deeper selloff toward $50,000.
CryptoPotato·
"SHIB looks dangerously ignored at these levels," one analyst stated.
Read full articleBitcoin’s $6000–$70,000 cost-basis cluster hints at a bottom, but a bearish daily flag keeps BTC exposed to a deeper selloff toward $50,000.
"I think that it still looks good and I have a bag of it that I'm trading," one popular analyst stated.
Bitcoin may still face a deep capitulation event despite an improving sentiment across the broader market.
SEC has approved T. Rowe Price Active Crypto ETF for NYSE Arca, offering managed exposure to BTC, ETH, XRP, SOL, DOGE, SHIB and more assets.
A bullish Bitcoin-gold overlay is drawing attention on X, but the $400,000 target depends on a speculative chart comparison.
The path for ETH south seems the steepest, according to the analyst. In contrast, XRP might be the closest to its bottom.
"DOGE is on a good level for accumulation," one popular X user claimed.
The analyst is arguing that weakening demand rather than investors' panic selling has been the primary force behind BTC's recent weakness.