BTC Sideways Trading Expected Despite Bearish Pressure — $54k a Buy Opportunity

IconCryptoNewsTerminal Staff08 Jul, 2024

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BTC Sideways Trading Expected Despite Bearish Pressure — $54k a Buy Opportunity

Bitcoin has been facing short-term selling pressure and volatility, but sideways trading is more likely than a trend change, according to Negentropic, the X account shared by Glassnode co-founders Jan Happel and Yann Alleman. They told their subscribers the $54,000 area is a strong buy opportunity. A retracement to that key level could be watched and is likely followed by sideways movement with upside potential. Bitcoin’s target for the fourth quarter is $100,000, and we could see some liquidation spikes along the way, they added. At the time of writing, BTC was changing hands at $57,258.16, up 2.48%, according to CoinMarketCap.

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