Bitcoin dips entice buyers, but charts warn of BTC price purge to $106K
Data support the view that Bitcoin trades at a discount, and traders are buying the dip, but charts still warn of a potential sell-off to $106,000.
Key takeaways:
Buying among retail and whale-sized traders helped slow down the BTC price sell-off, but bears still have a good chance of exploiting long liquidations to $106,000.
Spot and perpetual futures volumes lack aggression, preventing a lasting trend reversal, and sellers continue to sell into price rebounds.
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