10xResearch: Bitcoin may experience another "false breakdown"
ChainCatcher message, 10xResearch posted on social media that investors should pay attention to potential "false breakdown" price behavior after Bitcoin undergoes a triangular consolidation. The relative strength of Bitcoin has fallen to a low of 40% during this adjustment, a situation that is quite similar to Bitcoin's three adjustments since the beginning of 2023.
10xResearch stated that the institution is redefining its "bull-bear boundary price line," which may change its previous outlook. The previously bearish boundary line was set at $68,300.
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