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Title: Is Bitcoin Ready to Break $200K After Re-Accumulation Phase?
Bitcoin’s current consolidation above its 40-week moving average (MA) could potentially mark the beginning of a major upward move, with some analysts suggesting that it may be poised to break above the $200,000 and $300,000 levels.
According to recent market analysis, Bitcoin has been consolidating above the critical level of $73.9K, indicating that big players are positioning themselves in the market for exponential growth. This re-accumulation phase could have significant implications for the cryptocurrency’s future price action.
As depicted in the chart, it can be seen that Bitcoin has been consolidating around $74,000, which may potentially explode into an upward move. It is essential to note that invalidation levels for this setup would be a weekly close below this critical level of $73.9K.
Source: https://cryptonewsland.com/is-bitcoin-ready-to-break-200k-after-re-accumulation-phase/
