Bitcoin Whale Selling Cools as Traders Shift Focus to Key $59K Level
1 min read
Bitcoin (
“Bitcoin is still above the 200-week moving average ($59,000),” analyst Crypto Patel said in a recent X post, adding:
“The same level that confirmed every bull cycle in history. As long as $BTC holds this line, every dip is a gift.”
Fellow analyst Anup Dhungana said the “200-week MA at $59K is now the primary support to watch,” after Bitcoin confirmed a bear flag breakdown.
As Cointelegraph reported, Bitcoin’s next major support now sits at $60,000-$62,000, and losing it could see a deeper correction toward $41,000, the measured target of a bear flag on the daily chart.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
