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Bitcoin dip making ‘perfect bottom,’ says analyst: Will BTC rally to $148K?
Bitcoin has dropped by 7.50% three weeks after establishing its record high at around $123,250. But analysts say this may be the final shakeout before a breakout toward $150,000. On Sunday, Bitcoin retook its 50-day exponential moving average (50-day EMA; the red wave) as support after briefly dipping below it a day prior. The 50-day EMA has served as a reliable support level for initiating fresh rallies. In June, for instance, a brief drop below this wave support preceded a sharp 25% rebound. Now, BTC appears to be repeating the same setup, and analyst BitBull says that the cryptocurrency may undergo a June-like in ... (full story)
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