Key points:
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Bitcoin has pulled below $116,000, but select analysts expect buyers to step in at lower levels and arrest the decline.
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Select altcoins have reached critical support levels where the buyers are expected to mount a strong defense.
Bitcoin BTCUSD attempted a recovery on Friday, but higher levels attracted selling. That has pulled the price under $116,000 as short-term traders are rushing to the exit.
Analyst Stockmoney Lizards said in an X post that BTC is witnessing a shakeout in both directions. Despite the correction, the analyst remains bullish, expecting BTC to find support around $118,000 to $119,000.
Veteran trader Peter Brandt told Cointelegraph that “BTC could hit a bull market high any day now,” if it follows its historical cycle pattern. However, he added that…more
Source www.tradingview.com
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