Editor's PiCK
[Analysis] "Bitcoin, not yet at a turning point... Short-term target is 14,600 dollars"
Doohyun Hwang
Summary
- Analysis showed that Bitcoin (BTC) has not yet reached a turning point.
- A short-term target of 14,600 dollars was presented.
- It was reported that high selling activity has not emerged, and the active buying period ended.
Bitcoin (BTC), which is eyeing the 10,000-dollar mark, seems not to have reached a turning point yet, according to analysis. Bitcoin is repeating its rise and fall around the 9,700-dollar range in the Binance Tether (USDT) market on the 29th (local time).
On this day, the overall data analysis platform CryptoQuant stated, "The short-term target price of Bitcoin is expected to be 14,600 dollars when looking at the current real price average viewpoint. The average index is still showing a strong market," explaining this.
It further stated, "The market condition of the week is not showing high selling activity. The previous strong market period ended when sellers aggressively bought," it added.
Doohyun Hwang
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