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Bitcoin traders expect $60K by month’s end, marking $45K as ‘accumulation’

Published 01/03/2022, 03:30 PM
Updated 01/03/2022, 06:20 PM
© Reuters.

The bearish pressures facing the cryptocurrency market at the end of 2021 have continued into the first week of 2022 after the price of Bitcoin (BTC) dropped below $47,000 on Jan. 1 and the asset still faces stiff headwinds on the shorter timeframe charts.

Data from Cointelegraph Markets Pro and TradingView shows that, after climbing above $47,500 to start the new year, the price of BTC fell under pressure in the afternoon on Dec. 3. Currently, the price has dropped to $46,500 where bulls now look to mount a defense.

BTC/USDT 4-hour chart. Source: TradingView
BTC/USD 1-week chart. Source: Twitter (NYSE:TWTR)
BTC/USDT 6-hour chart. Source: Twitter
BTC/USD 1-day chart. Source: Twitter

Continue Reading on Coin Telegraph

Latest comments

lol
Why would BTC keep going up against the USD in a deflationary policy environment?
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