Bitcoin price target now $29K, trader warns after Terra weathers $285M FUD attack

  • Bitcoin is at risk of a bear market return after a sell-off overnight
  • The market is close to January lows
  • Market sentiment had long expected a deeper pullback after a tumultuous week on stock markets
  • Short-term price outlook sees a possible “flush” taking BTC/USD to as low as $29,000
  • Bids near $30,000, among them those of a whale trader on exchange Bitfinex, may prove too enticing to leave unfilled
  • Lows at 34.4k almost taken, so eyes now on a flush into 29-32k along with filling that finex whale’s bids
  • Do Kwon, the Terra co-founder now well known for both his Bitcoin buys and social media engagement, remained conspicuously cool
  • On weekly timeframes, BTC/USD was near to completing its sixth consecutive red weekly candle something which had only occurred once before in its history back in 2014
Bitcoin price target now $29K, trader warns after Terra weathers $285M FUD attack
Bitcoin price target now $29K, trader warns after Terra weathers $285M FUD attack 2

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