CandleFocus Bitcoin (BTC) Retests $57,000: Final Pullback Before All-Out Rally
2024-09-10
Author: Content Editor
Bitcoin's price rebounded to $57,050 after a drop to $53,930 earlier in the month. On-chain analysis suggests that BTC may experience one more dip before a rally in the last quarter of the year. Short positions and pessimistic sentiment fueled the recent bounce, but indicators such as the Delta Cap indicate it may take time for a sustained uptrend. If BTC clears the $60,000 resistance, it could trigger a strong rally, potentially pushing the price to $70,000.
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