Bitcoin dumped hard in early February, plunging to a 15-month low of $60,000. This meant that it had shed over 50% of its value since early October when it peaked at over $126,000.
Key takeaways
Quick scan — what you need to know:
- Bitcoin dumped hard in early February, plunging to a 15-month low of $60,000.
- This meant that it had shed over 50% of its value since early October when it peaked at over $126,000.
- Although it has recovered roughly 20% since that low and sits close to $72,000 now, there are still some analysts warning that the asset is not out of the woods yet and could be primed for another…
- One of them even highlighted the entry points where he wants to buy more BTC.
Background
What led here, in plain terms:
- Buy at $50K?
- Crypto analyst Jelle told his over 115,000 followers on X that his entry plan remains the same, as he wants to start buying bitcoin at around the $50,000 region.
- He believes the cryptocurrency could be on the verge of another decline, especially as the weekly RSI levels remain strongly oversold.
- Plan remains the same.
Why it matters
Why readers and decision-makers should care:
- Nevertheless, he explained that BTC could be on its way up in the short-term now, only to be rejected at $79,000-$84,000 and pushed south by 50% or more.
- #Bitcoin: The rule is very simple Bitcoin has not bottomed out, 40-48k is coming Potential of an upside move in the short term For this reason, placed short orders at 79-84k…
- Analyst Outlines Exact Entry Levels appeared first on CryptoPotato.