Bitcoin (BTC) Price Dip: Analyst Predicts Potential $70,000 Recovery, Labels Decline as Bear Trap
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- Bitcoin is currently on a recovery path, which tracks to analysts’ prediction that the price decline over the last two days has been more of a bear trap.
- Crypto analyst Orson Fawley elaborates more on this in his analysis and shows that the BTC price remains inherently bullish given its recent movements.
- Bitcoin’s recovery is strong and the buying pressure continues, indicating a positive future outlook for the cryptocurrency.
Bitcoin’s recovery path aligns with analysts’ predictions of a bear trap, with sustained buying pressure indicating a bullish future for the cryptocurrency.
Bitcoin Recovery Is Strong
Fawley took to the TradingView website to share his analysis on Bitcoin, covering its surge from last weekend through to the price decline on Monday. The crypto analyst pointed out that with the weekend surge that began on Friday, Bitcoin was able to form a wide-ranging bullish D1 candlestick close to its high. This indicates that the price was being pushed up due to strong and sustained ... Read the full article for FREE at COINOTAG!
