The cryptocurrency market has grown by 1% in the last 24 hours, and Bitcoin's price has reached $87,178.13. However, analysts warn of a possible short-term pullback.
Market Regains Its Place
On March 20, Bitcoin's price reached $87,452.17, but soon fell by 3.03%. Between March 20 and 22, the market lost 3.51%. Nevertheless, the market began to recover yesterday, increasing by 2.65%, which restored traders' confidence.
Short-Term Pullback: What to Expect?
According to CrypNuevo's post on X, the Bitcoin market may experience a correction within one to two weeks. It’s crucial for the BTC price to stay above the support level of $77,726.95 to maintain the bullish trend.
Support Trendline and Risks
According to CrypNuevo, there is a support trendline, but there are many stop-losses below it, which could lead to further price declines. Ensuring the $77,000 support level is reliable, investors can expect the uptrend to continue.
Despite the overall bullish market sentiment, traders should be cautious of a short-term correction. The $77,000 level remains crucial for supporting the bullish trend.
