Business

Bitcoin ‘still bullish’ even if BTC price drops to $50K — analysis By Cointelegraph



© Reuters.

(BTC) can return to $50,000 and nonetheless not violate an total “bullish thesis” after breaking all-time highs, recent analysis argues.

In its newest market replace on Oct. 22, crypto buying and selling platform Decentrader argued that after hitting and retracing from $67,000, there was no cause to be bearish on Bitcoin.

1-hour candle chart (Bitstamp). Supply: TradingView
BTC/USD chart with Fibonacci ranges highlighted. Supply: Decentrader