I wonder how low we gonna go this week...
65k-66k
or
60k-62k
or
under 60k
65k-66k
or
60k-62k
or
under 60k
You need to be higher up, a little bit more to reach the support they say here:
Quote
Bitcoin price needs support at $68,500
Intotheblock, an on-chain analytics platform, indicated the historical importance of Bitcoin’s $68,500 price level. BTC peaked between $68,000 and $69,000 in 2021, marking the all-time highs in previous bull markets. Current data highlights a high concentration of activity near previous all-time high levels where over 320,000 active addresses have interacted with Bitcoin.
Intotheblock, an on-chain analytics platform, indicated the historical importance of Bitcoin’s $68,500 price level. BTC peaked between $68,000 and $69,000 in 2021, marking the all-time highs in previous bull markets. Current data highlights a high concentration of activity near previous all-time high levels where over 320,000 active addresses have interacted with Bitcoin.
The correction according to the article seems normal:
Quote
On the 4-hour chart, BTC is receiving support from the 50-day EMA level, which coincides with the resistance level of $67,000. While an immediate move above $68,500 will continue BTC’s bullish momentum, a sideways consolidation near its current price may lead to deeper correction this week
Original Source:https://cointelegraph.com/news/quantile-model-analyst-predicts-135-k-to-285-k-bitcoin-price-in-2025
It is novel, because it is quantile analysis, and that is relatively new for me, I find it interesting, I think we need to review whether this occurs over time, I say yes.
