Analyst: Bitcoin May See Further Pullback, Better Entry Point if Trend Line is Broken

BlockBeats News, February 12th, analyst Brian Reynolds stated that Bitcoin's recent decline has been relatively stable, not a panic sell-off, indicating that the price may further retest before a strong buying opportunity emerges. Although the volatility has increased, it is still lower than in 2022-2023.

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