The Bitcoin (BTC) price could potentially dip to the $37,000 region if the orange coin fails to hold its $43k critical support level, according to a fresh analysis shared by crypto analyst Ali Charts, as key indicators suggest that Bitcoin’s fate still hangs in the balance.
Key insights
Crypto analyst, who goes by @ali_charts on social media, warns of a potential Bitcoin correction, linking it directly to a sustained close below $43,200. This crucial level acts as a litmus test for the market, indicating a bearish turn if breached. But if this support turns out to hold, it could trigger a possible BTC rise towards $47,360.
Per data from CoinGecko, Bitcoin (BTC) is exchanging hands for $43,780 and has gained 3.40% in value over the last 7 days, with a trading volume of over $12 billion, making clear the level of activity in the market.
Meanwhile, the looming anticipation of the approval of spot Bitcoin ETFs in the U.S., adds another layer to Ali’s prediction. As detailed in a recent YouTube video from the CryptosRUs channel, the analyst believes that this approval could be the trigger for
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Author: Ogwu Osaemezu Emmanuel
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