Bitcoin's 3 Price Action Scenarios: Below A Certain Price It's Time To Get 'Cautious,' Research Shows
Portfolio Pulse from Khyathi Dalal
10x Research analyzed Bitcoin's recent liquidation crash and remains bullish despite expecting a short-term sideways market. The firm's model, showing a high volatility signal, suggests three scenarios based on Bitcoin's price action, with strong ETF inflows noted even amid the price drop. The analysis is based on patterns from the past decade and current positioning above the 100-day moving average.
March 06, 2024 | 9:50 pm
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Bitcoin's price action analysis by 10x Research suggests bullish sentiment with potential short-term sideways trading. Strong ETF inflows indicate continued investor interest despite recent volatility.
The analysis by 10x Research indicates a bullish outlook for Bitcoin, supported by historical patterns and strong ETF inflows. The firm's model, which has been accurate in the past, along with the specific price action scenarios, suggests that Bitcoin's price is likely to resume its uptrend after a short period of consolidation. This is further reinforced by the strong ETF inflows, which demonstrate investor confidence even amid price drops.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100