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Despite the recent downturn, it's crucial to note that Bitcoin has merely corrected itself to a vital support zone. As long as Bitcoin prices remain above this defined area, analysts believe this does not signal the beginning of a bear market. Some bullish forecasts are still suggesting that outcomes could see prices soar to $150k, $200k, or even reach up to $250k in the future.
In technical analysis, the presence of a bearish crossover on the MACD and bearish divergence on the RSI have raised eyebrows. However, even a deeper pullback to around $85,000 would not be unprecedented or alarming.