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What is the new target of Bitcoin (BTC)?

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The leading cryptocurrency Bitcoin (BTC) experienced a drop to $18 thousand on June 19. After this decline, BTC, which had accumulated in the $18,000-$25,000 range, has yet to make a clear break.

BTC, which is going through a difficult process, has been pushing the $18k-$20k support in the past few days, but it still managed to stay above that level.

Although many cryptocurrency investors expect Bitcoin to face a final collapse after the accumulation phase, as in 2018, it should not be forgotten that BTC often shows movements contrary to expectations.

Can Bitcoin (BTC) rise to $40K?

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Captain Fabik, a successful cryptocurrency analyst, shared a new Bitcoin analysis on his Twitter account today. Examining BTC’s summer 2021 accumulation phase on the RSI indicator, Faibik found that it is very similar to what happened in the previous 5 months.

Although Bitcoin is closing lower with each passing week, the bottoms on the RSI chart continue to rise. Thanks to this positive correlation, the successful analyst, who expected Bitcoin to reach $40 thousand in the following process, gave hope to many investors and followers. Which direction will Bitcoin go in the coming days? Interesting question.

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