CandleFocus Analyst says Bitcoin’s 2024 ‘capitulation is not over’, sets new bearish targets
2024-09-07
Author: Content Editor
Bitcoin is currently undergoing a correction due to market fears over the overall economy and disappointing jobs data. Cryptocurrency trading analyst Alan Santana warns that BTC could see further losses below the crucial $50,000 mark. Santana believes the correction phase could last another seven to nine months based on a bearish trend in Bitcoin's 2024 trading pattern. He remains optimistic about altcoins and notes key market indicators to monitor. Santana foresees a potential drop to $40,000 or lower before a bottom is established, but expects an upward trajectory afterward. However, he cautions that timing the exact bottom may be difficult. Another expert suggests Bitcoin might correct to $53,000 before a two-year bull run. Attention is now focused on the $55,000 resistance level for Bitcoin.
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