Bitcoin (BTC) struggles to reclaim price highs above $76,000, but analysts say that the uptrend may continue if key conditions are met.
Bitcoin’s 8% climb over the last three days saw it reclaim key levels, including the 50-day exponential moving average (EMA) at $71,000.
“$76K is the level that decides everything,” analyst Crypto Patel said in a Wednesday post on X, adding:
“We need a proper HTF candle close above this zone to trust the move.”
Related: Bitcoin falls to lower support as analysts say markets are ignoring key Iran issue
The analyst further explained that a high-time frame close above $76,000 would open the path toward the $84,000-$96,000 zone, where investors acquired more than 2 million BTC over the last six months, according to Glassnode’s cost basis…
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Source cointelegraph.com
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