Last week, Bitcoin experienced volatility, reaching a two-month high of $66,500 before falling to $59,500. However, it has now bounced back and reached $64,500. A crypto analyst, Doctor Profit, released a report stating that Bitcoin's recent price movements challenge the bearish narrative. The analyst noted that the higher high/lower low pattern tends to break down during sideways movement. Doctor Profit sees $66,000 as the short-term target for Bitcoin and plans to establish long positions around the $60,400 level. Another analyst, TedPillows, suggests that Bitcoin's consolidation phase may be ending after nearly six months of trading below $70,000 and hints at the possibility of a new all-time high. Currently, Bitcoin is trading at $63,835, up 2% in the last 24 hours and maintaining a 17% gain for the month.



Other News from Today