BTC Technical Inflection: Downside Target Hit, Bounce Watched
Bitcoin reached a key analyst downside target and is now forming a low-timeframe base; BTC has also gained 60% vs. gold since February, returning to its 5-year average on that ratio.
What we know
An account on X confirmed BTC hit his downside target and is now monitoring for a reversal setup to sweep upside liquidity. Another account on X contextualized BTC's macro strength: +60% vs. gold since February and +40% vs. Nasdaq since June bottom. @CoinDesk quoted analyst David Duong noting renewed ETH and altcoin strength alongside resilient U.S. macro data.
Sources
“Bitcoin obviously is the barometer for liquidity for a lot of markets, both inside of crypto as well as outside of it.”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.