Crypto: Bitcoin Trader Sees 'lower Soon' As BTC Price Starts To Erase $74k...

BTC price upside lost momentum after hitting one-month highs as more traders joined bearish predictions for Bitcoin's next move.

Bitcoin (BTC) gave back some gains at Thursday’s Wall Street open as traders hoped that bidders would step up.

Bitcoin begins to lose ground after hitting $74,000, now targeting a potential support reclaim.

Bid support remains strong on exchanges in an encouraging signal for trend reversal.

Bearish BTC price forecasters remain confident about the rally fizzling.

Data from TradingView tracked 1.5% BTC price downside on the day as the market fell further from $74,000 local highs.

Now in the process of testing key long-term levels as potential new support, BTC enjoyed waning sell-side pressure on crypto exchanges.

“Binance spot orderbook depth has quite strong bid side, OB imbalance also not as negative as it should be, so staying bullish,” X commentator Exitpump wrote in its latest analysis.

Trader Castillo Trading noted improving conditions on longer time frames.

“Binance spot $BTC sell pressure has really cooled off this month,” they summarized while comparing activity across major exchanges.

Source: CoinTelegraph