BTC Dips Below $64k - If Support Fails, Downtrend Possible to $55k

IconCryptoNewsTerminal Staff02 Aug, 2024

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BTC Dips Below $64k - If Support Fails, Downtrend Possible to $55k

Alex Kuptsikevich, a senior market analyst at FxPro, recently spoke with CoinDesk. He expressed that if Bitcoin’s downtrend continues, two support levels will be critical: $63,000 (50-day moving average) and $61,000 (200-day moving average). “If the support at these levels fails, there is a possibility of a downward trend until $55,000,” Kuptsikevich added. According to CoinMarketCap, BTC is currently trading at $64,199.20, down 1.77%.