Bitcoin Price Awaits Catalyst As Speculative Mania Heads Elsewhere

Given the developing series of lower-lows and lower-highs, it is difficult to make a convincing bullish argument at this stage and Bitcoin may need to regain its luster before resistance can be taken out – a task that will become more difficult should meme stocks continue to steal the spotlight. That said, Bitcoin remains well beneath recent levels and lacks significant support until $30,000. A break beneath $30,000 would mark another significant downgrade in the technical outlook and would open the door to deeper losses.

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