Bitcoin (BTC) Price Analysis: Still in Correction Mode

Bitcoin is still consolidating after its recent test of the ascending channel resistance, keeping the correction going. Price seems to have bounced off the 38.2% Fibonacci retracement level but might still be due for a larger dip. The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the climb is more likely to gain traction…
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