Analyst: Bitcoin May Further Pull Back, Better Entry Point if Trend Line is Broken

BlockBeats News, February 12th, analyst Brian Reynolds stated that Bitcoin's recent drop has been relatively steady, not a panic sell-off, indicating that the price may further dip before a strong buying opportunity emerges. Although the volatility has increased, it remains below the 2022–2023 levels.

Due to the high market leverage, further downside may trigger liquidations. If Bitcoin breaks below the trend line, Reynolds believes a better entry point will emerge. Bitcoin is currently priced around $66,590, significantly down from last October's high of $126,223.