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BTC Price Analysis: Bulls Buy the Dip, These Levels Are Targeted!

Bitcoin broke below the minor resistance of $72,000 on June 7, seeing a sharp decline. Therefore, this shows that the bears continue to be active at higher levels. The retracement found support at the 20-day exponential moving average ($68,603). This also shows that the bulls continue to view the dip as a buying opportunity. If the price is able to rebound strongly from the 20-day exponential moving average, the bulls will strive to guide Bitcoin to the overall resistance of $73,777. A breakout and close above this resistance could open the door to a potential rally to $80,000 and then $88,000. Conversely, if the price falls below the 20-day exponential moving average, it will signal that the bulls are giving up. This could lead to a drop in the price to the 50-day simple moving average ($65,807). $BTC