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Ivan Liljeqvist: Bitcoin remains below $80,000 and faces weekly bear trend
Ivan Liljeqvist shares a bearish update on the current Bitcoin price action.
He notes that Bitcoin was recently rejected by the 200-day moving average and is currently trading below $80,000. Liljeqvist observes that the asset is in a weekly bear trend and cautions that the recent upward movement lacked significant trading volume, raising concerns about a potential 'fake pump'. He advises a risk-off approach and protecting capital.
Liljeqvist has previously observed sudden market moves, including when he reported on SNDK gaining 75 percent in 20 days during a daily bull trend. He has also discussed his early crypto journey, which included both gains and losses. These experiences inform his recent cautious stance on Bitcoin price action.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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