Analyst: A standalone technical analysis based on chart patterns indicates that Bitcoin could potentially drop to $30,000

IG Australia Pty market analyst Tony Sycamore wrote in a report that despite the overnight deterioration of risk sentiment, Bitcoin still demonstrated impressive resilience. Meanwhile, separate technical analysis based on chart patterns suggests it could temporarily drop to $30,000.

 

Orbit Markets co-founder Caroline Mauron, a digital asset derivatives liquidity provider, said we expect the market to pause briefly before the upcoming Bitcoin halving takes dominance after an astonishing four-month rise.