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    Home » Bitcoins Strategy to Sustain Above 30000 Threshold
    Bitcoin

    Bitcoins Strategy to Sustain Above 30000 Threshold

    By adminJul. 6, 2024No Comments1 Min Read
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    Bitcoins Strategy to Sustain Above 30000 Threshold
    Bitcoins Strategy to Sustain Above 30000 Threshold
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    Cryptocurrency analyst Jason Picino has issued a warning about Bitcoin (BTC), stating that if it fails to hold the key support level, the asset could face a significant decline.

    According to Picino, Bitcoin needs to maintain support around $44,600 to prevent a potential drop to early 2023 levels.

    Any closing price below $44,600 could indicate a substantial decline. Breaking below $40,000, especially on a monthly closing basis, would mark a breakthrough in the long-term trend, effectively ending the current cycle. If Bitcoin falls below $40,000 and stays at that level, it is more likely to continue declining, potentially testing the range of $30,000 and $20,000.

    Read more:

    Is the current correction a good opportunity for cryptocurrency investors?

    Picino also mentioned that if Bitcoin remains above the critical bullish support level, it could still recover its upward trend. He believes that BTC could reach over $60,000 by the end of the year:

    “I believe as long as Bitcoin stays above the $50,000 range, especially the bullish support level around $49,243, there is still a chance for it to rise. However, the recovery may take longer than initially anticipated.”

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