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Analyst Says BTC Price Must Rebound to $9400 Quick to Prevent Bears
Summary: Filbfilb, a popular trader and a market analyst from Cointelegrah, posts on Twitter this morning, claiming that BTC price needs to reclaim $9400 as soon as possible. Stuck in compression cycles for multiple weeks, Bitcoin price presents a pattern of higher lows and lower highs, with trading range narrowing. A potential climax in bearish territory ...
Filbfilb, a popular trader and a market analyst from Cointelegrah, posts on Twitter this morning, claiming that BTC price needs to reclaim $9400 as soon as possible.
Stuck in compression cycles for multiple weeks, Bitcoin price presents a pattern of higher lows and lower highs, with trading range narrowing. A potential climax in bearish territory denotes a dangerous sign for Bitcoin.
“Coming to the end of consolidation/compression now”, Filbfilb wrote in the comment. He adds that BTC price has been hovering below the middle of the Bollinger Bands, an indicator measuring possible BTC bulls or bears, and usually this is not a positive sign.
By Lily Yang
Tags: Bitcoin,Market
Link: Analyst Says BTC Price Must Rebound to $9400 Quick to Prevent Bears [Copy]
