Bitcoin

Coin

<ul class="news-points"> 
 <li>Analyst outlines critical thresholds for bullish and bearish scenarios for Bitcoin.</li> 
 <li>Close above $48,969 could make bullish sentiment prevail, per the analyst.</li> 
 <li>The bears could reportedly be targeting a 6% drop to $45,500.</li> 
</ul> 
A notable analyst has pinpointed a critical juncture for shorting the <a href="https://coinedition.com/bitcoin-nears-50k-mark-surges-for-the-7th-consecutive-day-report/" target="_blank" rel="noreferrer noopener">Bitcoin market</a>, signaling a potential downturn for the world’s leading cryptocurrency. Bitcoin has recently engineered praiseworthy trajectories, climbing to a height of $48,600. 
However, the asset struggles to maintain the $48K range, having crashed to as low as $47,770 in the last 24 hours. Consequently, the analyst from the Cheeky Crypto YouTube channel <a href="https://youtu.be/8DXJw5kf4MU?si=JyHBlks5ePdbJxO3" target="_blank" rel="noreferrer noopener nofollow">weighed in on</a> the current state of the Bitcoin market, hinting at the possibility of impending breakouts.&nbsp; 
Specifically, the analyst outlined the critical thresholds for bullish and bearish scenarios, noting concerns about a rising wedge pattern. For the bulls, the focus lies on breaching the resistance zone spanning from $47,115 to $48,969. According to the analyst, this zone marks the battleground where bulls strive to establish a new local high.&nbsp; 
He …
The post <a href="https://coinedition.com/btc-market-analysis-bears-target-45500-as-bitcoin-struggles-to-maintain-48k-range/">BTC Market Analysis: Bears Target $45,500 as Bitcoin Struggles to Maintain $48K Range</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

BTC Market Analysis: Bears Target $45,500 as Bitcoin Struggles to Maintain $48K Range

Coin Edition

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