Seize the Bitcoin (BTC) Opportunity: Analysts Optimistic as Federal Reserve Adopts Dovish Stance
- Bitcoin’s recent drop has led to the liquidation of leveraged long bets. However, one analyst believes this could be an opportunity to accumulate, based on historical patterns of pullbacks followed by impressive recoveries.
- The analyst shared a chart indicating that Bitcoin is within historical retracement ranges, which usually precedes a sharp price increase.
- Despite the current bearish outlook, some analysts remain positive, citing the United States Federal Reserve’s reduction of Quantitative Tightening (QT) runoff as a potential boost for Bitcoin prices.
As Bitcoin’s price drops, one analyst sees an opportunity to accumulate, citing historical patterns of pullbacks and recoveries. Despite bearish outlooks, some remain positive, citing the Federal Reserve’s reduction of QT runoff as a potential boost for Bitcoin prices.
Time To Load The Bitcoin Dip?
The analyst shared a chart indicating that Bitcoin is within historical retracement ranges. Whenever this happens, prices tend to bounce back sharply, much to the relief of holders. Solid data back this assessment. The analyst said that since Bitcoin bottomed at $15,500 in 2022, there have been four distinct pullbacks, all within the -20% to -23% range. For the savvy, the trader continued, each of these downturns presented an opportunity to accumulate at a discount.
Shrinking Spot ETF Inflows, United States Federal Reserve Turns Dovish
Though optimism reigns, the possibility of BTC crashing below the $52,000 and $50,000 support levels cannot be discounted. This outlook, though b... Read the full article for FREE at COINOTAG!
