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- Analysts debate over the bear and bull signals on the BTC price chart.
- Bitcoin has not entered the ebar market but analysts remain cautious.
- The BTC price chart confirmed a textbook bullish pattern today.
The price of the pioneer crypto asset Bitcoin (BTC) struggles in its prices in the lower $80,000 price range, leading analysts to look closer at the BTC price chart to predict the cryptocurrency’s next move. Presently, analysts are debating over the bear and bull signals filtering into the BTC price chart.
Analysts Debate Over Bear and Bull Signals
As for what traders and investors can expect from Bitcoin in the coming days and weeks, analysts are taking a cautious approach. As we can see from the post above, this analyst states that it is important to consider both bear and bull signals on the BTC price chart. He highlights a possible bear market case.
To elaborate, the analysts make it clear that BTC has not entered a bear market, but preparing for a possible bear scenario can make all the difference. He shares a chart and highlights the blue area, a break below this range, he says, would drastically increase the probability of a bear market. He says as long as BTC holds support, the bull market will remain intact.
How Will Bitcoin (BTC) Price React?
AS for the bullish outlook, the analyst in the post above confirms that Bitcoin, on the larger timeframe is positioned and looking likely to confirm a textbook bullish pattern today. He also adds that this would suggest that despite the price pullback from ATH prices, underlying momentum is still strong and bullish.
