Analysis: Bitcoin May Retrace to $64,000, Doubts on Reaching $150,000 This Year
According to Cointelegraph, analysis shows that Bitcoin's weekly chart is exhibiting a bearish divergence similar to 2021, which could trigger a more than 50% pullback to $64,000. The technical pattern also indicates that breaking key support could lead to a decline to $91,000. Although some analysts remain optimistic about the $150,000 target, a breakthrough of the on-chain key indicators NUPL/MVRV1.0 is needed to confirm a new round of increase.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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