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17 September 2021

Here are the BTC price levels to watch as $38K emerges as bulls' line in the sand

Here are the BTC price levels to watch as $38K emerges as bulls' line in the sand


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“For Bitcoin to remain bullish, these two moving averages will need to be maintained, with any price action lower being intraweek – a weekly close below the 50 DMA would not be attractive, particularly if the 20 Week moving average is also lost (yellow line currently around $42k),” he summarized.

Should bulls need more impetus to enter, $38,000 — the site of the 61.8% Fibonacci retracement level from $64,500 all-time highs — may yet provide the ultimate line in the sand in the case of a more intense BTC price correction.

These all-time highs could focus on the $100,000 mark, in line with end-of-year targets from other sources.

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cointelegraph.com
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