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Image Credit: Coin Telegraph

Bitcoin in ‘pivot zone’ as potential consolidation looms: Analyst

  • Analyst Willy Woo believes Bitcoin markets could face consolidation if more buying pressure doesn't emerge this week.
  • Woo mentioned that latecomer speculators are taking long positions while potential profit-taking looms, affecting Bitcoin's price action.
  • On a positive note, the risk signal is declining, indicating buy-side liquidity dominance in the market for a potential uptrend.
  • Bitcoin is currently trading around $107,785 with analysts mentioning potential technical pressure zones and support levels to watch for.

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