Bitcoin, the world's largest cryptocurrency, experienced a decline again today and increased its loss in the last 24 hours to approximately 2.5%.
Losses in the last week have exceeded 5%. BTC price briefly rose above $67,000 this week but could not hold there.
Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, shared his current views on the market in light of the latest developments. il Capo said in another analysis he published recently that he still thinks in favor of the bull.
According to the analyst, BTC price failed to stay above $65,000, but this still remains a strong demand zone.
il Capo defined a demand zone between $65,000 and $63,000. According to the analyst, if there is a jump above $66,000 after the $65,000 level on the descending trend line, the bull scenario towards $68,000 may be valid.
The analyst said that his main thought is that the market will move in this direction, and in addition, he thinks that altcoins will also make strong movements during this jump.
According to the data, during the last decline, $ 126 million of cryptocurrency positions were liquidated in the last 24 hours, and $ 97 million of them were in long positions.
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*This is not investment advice.