Bitcoin Is a Buy at $60,000 if Macro Forces BTC Lower, Says Trader
A trader suggests buying Bitcoin near $60,000 if macro factors push the price down from its current struggle around the 200-week EMA.Summary
Bitcoin (BTC) is facing a critical juncture as it struggles to reclaim its 200-day exponential moving average (EMA) trend line, currently around $68,310, as resistance following recent lows near $66,569. Analyst Rekt Capital noted that a weekly close below this EMA would solidify it as resistance, similar to conditions seen before March 2023. Conversely, trader Merlijn pointed to the 2023 structure where reclaiming this EMA acted as a launchpad for a major rally, suggesting continuation if the level holds as support. Furthermore, trader Michaël van de Poppe linked Bitcoin's potential rebound to the performance of commodities like oil and gold, stating that if these move favorably, a return to highs is possible. However, he indicated that he would be a "big buyer in the $60K areas" if BTC tests its lows again, citing historically low Bitcoin valuation relative to gold.
(Source：Cointelegraph)