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Bitcoin price dip may retest $55K before next leg up

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Bitcoin price dip may retest K before next leg up
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Bitcoin price dip may retest $55K before next leg up

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Source: Coin Telegraph

Based on the upcoming Aug. 14 CPI reading, Bitcoin lost a key trend line when it fell under $63,000, but it could still be on track to recover.

Bitcoin price dipped below a key trendline as analysts eye a potential correction below $55,000 before it can rebound.

Bitcoin’s (BTC) price fell below a key growth trajectory line based on previous Bitcoin halving cycles.

Related: More ‘extreme fear’ than FTX crash — 5 things to know in Bitcoin this week

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Author: Zoltan Vardai

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