Bitcoin dips below $42K as new forecast says breakout 'most probable outcome' for BTC price

BTC price action weakens but no 'death cross' is taking away from positive views on Bitcoin going forward.

1/15/2022 2:07:00 AM

It’s a dip, but it won’t last forever. After Bitcoin dropped below the $42K mark, analysts believe that a move to the upside is “the most probable outcome eventually”.

BTC price action weakens but no 'death cross' is taking away from positive views on Bitcoin going forward.

in a market update issued Jan. 14, and the upside was"likely" over a cascade lower."It is our view that we may need to see some further ranging between $44,000 and potentially $38,000 before an eventual breakout. This ranging is likely to cause more pain and misery for any traders who try to impatiently front-run major moves before they are ready," the update summarized.

Read more: Cointelegraph »

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argued in a market update issued Jan. 14, and the upside was"likely" over a cascade lower. "It is our view that we may need to see some further ranging between $44,000 and potentially $38,000 before an eventual breakout. This ranging is likely to cause more pain and misery for any traders who try to impatiently front-run major moves before they are ready," the update summarized. Encouraging, Decentrader