Trading expert identifies Bitcoin’s price ‘sweet spot’

Although Bitcoin (BTC) has staged a minor recovery, reclaiming the $70,000 level, a trading expert has suggested the asset still has room to drop into what they identified as its “sweet spot.” In this regard, insights from analyst TradingShot note that this area could serve as a key accumulation zone for Bitcoin as the asset posts its fourth consecutive weekly decline following a recent near test of the 200-week moving average. In a TradingView post on February 12, the analyst observed that Bitcoin approached the 200-week MA at around $56,000 before extending its pullback. Historically, the 200-week moving average has marked key bear market turning points, and a decisive break below it could signal a deeper correction source: https://finbold.com/trading-expert-identifies-bitcoins-price-sweet-spot/