Taking this into consideration, a crypto analyst has pinpointed key price levels for investors to monitor for potential buying opportunities. Buy Levels To Watch For The Bitcoin Price A crypto analyst identified as Stockmoney Lizards’ took to X (formerly Twitter) on August 1 to discuss Bitcoin’s recent price movements, highlighting key buy levels and the cryptocurrency’s propensity for a price increase.
According to a crypto analyst identified as TOBTC’ on X, Bitcoin experienced a significant decline in its price, falling below the $63,000 price mark. Related Reading: Crypto Analyst Warns That Bitcoin Could Crash To $42,000 If This Happens The analyst revealed that despite Bitcoin getting rejected at the $70,000 resistance, a potential breakout is expected by September.
He noted that on the higher timeframe, Bitcoin’s potential uptrend was still intact, adding that if the cryptocurrency’s price breaks below the $61,800 mark, then a further decline to test the 2.618 Fibonacci extension at $56,800 should be expected. Overall, the crypto analyst is leaning towards a bullish outlook for the short term and mid term timeframes in Bitcoin’s price.
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