Bitcoin experienced a recent price drop, potentially forming a double bottom on hourly charts. Despite the 6% decline, the speaker asserts that a 15-20% drop would not be problematic, with a potential support level around $93,000. This price decline is viewed as a necessary correction within the context of Bitcoin's overall trajectory.
Bitcoin Price Correction
• 00:00:47 Bitcoin experienced a recent price drop, potentially forming a double bottom on hourly charts, indicating a potential correction. The speaker claims a drop of 15-20% would not be concerning, given the overall market context.
Bitcoin Support Level
• 00:01:27 The speaker identifies $93,000 as a potential support level for Bitcoin, suggesting that it could become a new support level following a recent decline. This decline is viewed as a necessary correction, and even a drop of up to 20% is not considered a major issue.