Bitcoin's Price May Dip To $61K, Not 'Miraculously Find A Way To Continue Upwards,' Trader Cautions
Portfolio Pulse from Khyathi Dalal
Prominent cryptocurrency trader Mercury has expressed concerns about Bitcoin's recent price movements, warning of a potential dip to $61,000 if key moving averages are lost. He emphasized the importance of defending the weekly market structure to avoid a significant bearish trend.
June 12, 2024 | 1:57 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Trader Mercury has warned that Bitcoin could dip to $61,000 if it fails to maintain key moving averages. This could signal a significant bearish trend not seen in over a year.
The trader's analysis highlights the risk of Bitcoin losing key moving averages, which could lead to a significant price drop. This is crucial for investors to monitor as it may indicate a bearish trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100