Analyst: If BTC cannot break through $85,000 at the close of this week, it may further decline next week
According to Cointelegraph, Bitget Research's chief analyst Ryan Lee stated that unless Bitcoin's closing price this week can break through the psychological barrier of $85,000, the price of Bitcoin may further decline next week. Ryan Lee added that in the midst of ongoing trade war concerns, a weekly close above $85,000 for Bitcoin will be "crucial for resuming an upward trend". A closing price higher than this level could prevent a fall to $76,000 and send out a strong signal while $87,000 would provide a clearer bullish signal. Stable interest rates and cooling inflation are macro factors supporting risk assets but Sunday's closing price will be decisive.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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