Bitcoin (BTC) saw a widely-anticipated pullback on Oct. 13 as bulls struggled with February’s old all-time highs.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalysts unfazed by BTC price pullback
After recovering to around $55,000, the pair looked choppy on Wednesday with no clear direction apparent in the short term.
For analysts, however, there was little surprise in the moves. $58,000 had been tipped as tricky resistance which was unlikely to break all at once, while a “buy the dip” opportunity at $53,000 or below was also on the radar for many.
“This BTC pullback doesn’t worry me at all,” trader and analyst Rekt Capital summarized.
He added that such a consolidation and