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Bitcoin’s Price Sees Slow Rebound: Here Is The Next Strong Support Zone To Watch
According to recent market analysis, the price of Bitcoin is slowly regaining momentum after a brief downturn. Market observers are keenly monitoring this development as it could have significant implications for traders and investors.
In response to the recent price fluctuations, technical analyst BorisVest shared his insights, stating that if the asset’s value were to drop to a specific zone, certain market participants might make the decision to sell their holdings. Conversely, strong hands are expected to take advantage of this potential dip by purchasing more BTC and opening new positions.
The data from Santiment shows that Bitcoin’s market value is experiencing an upward trend once more, with the asset reaching the $87,300 mark, while other cryptocurrencies continue to lag behind.
This stabilization has led many traders to monitor closely for signs of a sustained rebound in order to confirm any potential gains.
Data provided by Santiment reveals that the entire cryptocurrency market cap remains down by about 7%, even though there was an increase of approximately +0.2% for BTC’s price during the past week, which is not enough to recover losses but still shows promise.
The current price level at $83,260 on a daily basis | Source: BTCUSDT on Tradingview.com
Source: https://bitcoinist.com/bitcoins-strong-support-zone/
