witnessed a price correction in the last 24 hours. A major reason behind this could be the rise in liquidation.
Whenever liquidation rises, it increases the chances of a price correction. Therefore, investors might have chosen to exit their positions after hitting that level.AMBCrypto’s analysis of the coin’s daily chart revealed a widening, falling wedge pattern. If the downturn continues, then investors might witness BTC dropping to $60,078.
Notably, BTC’s Pi Cycle Top indicators pointed out that BTC’s price was trading below its possible market bottom. If that’s true, then BTC might turn bullish soon.or the uninitiated, the Pi Cycle indicator is composed of the 111-day moving average and a 2-times multiple of the 350-day moving average of Bitcoin’s price., BTC’s net deposit on exchanges was low compared to the last seven days’ average. This clearly meant that selling pressure on BTC was low, which usually results in price upticks.
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