Bitcoin has further to fall before BTC attacks $70K, says trader
Bitcoin (BTC) remains bullish but has "one more leg down" to complete before a resurgence, one trader argues.
In analysis on Nov. 10, popular Twitter account Crypto Ed said that the pullback from this week's all-time highs above $68,500 was turning out to be deeper than anticipated.
"Going a bit deeper as I was expecting yesterday. Looks like it will do 1 more leg down to complete that ABC," he said alongside a forecast price trajectory chart.
BTC/USD could thus fall as low as $65,000 in the short term, marking retention of April's old highs as support.
Others framed Monday's record as a record slump for the U.S. dollar against Bitcoin, among them longtime trader Peter Brandt.
"$1 when I was born is worth 8 cents today. $1 today will likely to
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