Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000. Nonetheless, some analysts warned that the cryptocurrency is entering a corrective phase with a potential 15%-25% drop.
Bitcoin Risks Drop Below $110,000
On Monday, Bitcoin fell below the $115,000 level for the first time in nearly two weeks, retesting the $114,500 support before bouncing. The flagship crypto has been hovering between its local price range since August 7, hitting its latest all-time high (ATH) of $124,200 before ultimately being rejected from the range highs.
Now, some market watchers have affirmed that BTC has entered a corrective phase, which could send the cryptocurrency below other crucial support levels. Ali Martinez noted that the recent rejection “came in the form of a deviation, which often signals weakness and opens the door for deeper pullbacks.”
According to the analyst, Bitcoin has been trading within the $112,000-$122,000 p
We współpracy z: https://www.newsbtc.com/news/bitcoin-risks-drop-below-110000-despite-bounce-is-a-15-pullback-coming/
