Bitcoin price still due $12K dip, says trader as ETF guru backs GBTC

Bitcoin price still due $12K dip, says trader as ETF guru backs GBTC


Bitcoin (BTC) stayed undecided at the Nov. 24 Wall Street open as one trader reinforced a $12,000 BTC price target.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price “main target” for bottom $12,000-$14,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $16,500 as an eerie calm continued on the market.

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The pair nonetheless failed to convince analysts that better times were on the way, and popular commentator Il Capo of Crypto suggested that it was only a matter of time before downside resumed.

On both high timeframes (HTF) and low timeframes (LTF), the picture looked bleak.

“Htf: lower lows and lower highs after breaking a monthly redistribution range. Below June’s low and at supply zone. Ltf: weak trend caused by a short squeeze (bull trap). Volume dying,” he

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