BTC price action, he observed, was closely copying behavior from the middle of its previous bull market in 2021.“Part of Bitcoin continuing to repeat mid-2021 price tendencies relative to the Bull Market EMAs would be a dip into the $87000 (green EMA) level for a post-breakout retest, if at all needed,” he commented on a weekly chart showing two exponential moving averages (EMAs).“Depends on how BTC Weekly Closes relative to $93500.”BTC/USD 1-week chart.
Source: Cointelegraph/TradingViewBitcoin continued to brush off news events, leaving volatility to equities, while gold attempted to stabilize after slipping from record highs earlier in the week.“Fairly normal to have a slight correction here on Bitcoin as it's just had a massive breakout,” crypto trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day.“Buyers likely going to step in and then we'll be continuing our path towards a new ATH.”BTC/USDT 12-hour chart with RSI data.
The pair broadly maintained six-week highs while global markets remained at a loss over the trajectory of the ongoing US trade war.“The market is now up over +1% on the day on no news at all,” trading resource The Kobeissi Letter summarized alongside a chart of the S&P 500 in part of its latest analysis on X.“As we have seen multiple times this year, it almost feels like someone is front-running something right now.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin 'short squeeze' or $87K dip next? BTC price predictions vary" has 561 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin 'short squeeze' or $87K dip next? BTC price predictions vary" was covered 15 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 37 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
