Analysis: Bitcoin May Retrace to $64,000, Doubts on Reaching $150,000 This Year
According to Cointelegraph, analysis shows that Bitcoin's weekly chart is exhibiting a bearish divergence similar to 2021, which could trigger a more than 50% pullback to $64,000. The technical pattern also indicates that breaking key support could lead to a decline to $91,000. Although some analysts remain optimistic about the $150,000 target, a breakthrough of the on-chain key indicators NUPL/MVRV1.0 is needed to confirm a new round of increase.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BMO: Powell Will Avoid Making a Clear Commitment on January Interest Rates
Theoriq airdrop check is now live
Meta may launch its new AI large model Avocado early next year
RaveDAO launches fan achievement badge system, connecting offline actions with on-chain identity
Trending news
MoreCrypto prices
More
