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The current price is below $19,200 and seems to drop again below $19,000. It is surely not an indicator of a bullish trend, Bitcoin is still struggling. Even Bitcoin can reach $20,300 today, it can't last a long time. Since the price already dropped again, I think this sideways will continue until several weeks in the future. Maybe we can expect a bullish indicator in the next month.
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BITCOIN PRICE ANALYSIS CMP-$20200 After breaking the triangle pattern, BTC cross?
Bitcoin's price began a steady rise above the $19,200 barrier level. BTC is currently trading above $19,500, indicating a bullish trend.
If the bulls maintain their position over $20000, the price might rise to $20,500.
This year, Bitcoin has had a stronger correlation with the US equities market, especially the S&P 500. The current movement indicates that Bitcoin is trying to break away from this correlation, but it is still too early to make any conclusions. The decline in Bitcoin whale holdings this year has also been a source of concern.
The cryptocurrency market is experiencing an unexpected surge. Bitcoin has climbed from the $18,000-$19,000 region to surpass the $20,000 barrier. It has risen by more than 7.65% in the last 24 hours and is currently trading at $20,200. However, because the stock markets are falling, Bitcoin is attempting to break the correlation.
