Look out below! Analysts eye $40K Bitcoin price after today’s dip to $45.7K
On Monday, Bitcoin’s short-term outlook worsened after the price fell to an intra-day low at $45,672, a far cry from the weekend’s promising rally above the $50,000 level.
With the year nearly complete, and all-time highs nearly 33% away, traders are most likely readjusting their expectations and pushing the $100,000 BTC target a bit further into 2022.
Day traders, 4-hour chart watchers and over-leveraged longs are likely freaking out (unless they went short from $50,000 over the weekend or at this morning’s weakness), but let’s zoom out a little bit to see where Bitcoin price stands.
On the daily timeframe, we can see the price struggling to breakout away from the trend of daily lower highs and aside from the Dec. 4 drop to $42,000, traders
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