According to
#BitcoinPlungeNearsHistoricLows Analyst, Bitcoin is facing short-term downside risk.
Bitcoin (BTC), after falling to $60,000 last week and then recovering, still faces the risk of decline.
An analyst states that the data indicates Bitcoin’s short-term downside risk.
Market analyst Yashu Gola notes that, considering both technical indicators and on-chain data, Bitcoin is exposed to short-term downward risks.
Firstly, he pointed out that Bitcoin’s daily chart has formed a classic bear flag pattern. This bear flag formation suggests that BTC’s price could drop toward $56,000.
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