Bitcoin and altcoins see retracement amid a short-term target of April’s all-time highs to act as support for BTC/USD.
Bitcoin (BTC) remains bullish but has “one more leg down” to complete before a resurgence, one trader argues.In an analysis on Nov. 10, popular Twitter account Crypto Ed said that the pullback from this week’s all-time highs above $68,500 was turning out to be deeper than anticipated.Target $65,000 for Bitcoin“Going a bit deeper as I was expecting yesterday. Looks like it will do 1 more leg down to complete that ABC,” he said alongside a forecast price trajectory chart. “Lines up with 2nd chart: taking out those lows and retest support. When bounce, going for 70k.”BTC/USD could thus fall to as low as $65,000 in the short term, marking retention of April’s old highs as support. BTC/USD price scenario. Source: Crypto Ed/TwitterOthers framed Monday’s record as a record slump for the United
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