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Bitcoin's decline from $78,000 to $75,000 is not a bearish signal, according to analyst Ardi. He believes that a retest of support is the most important step in confirming a breakout.
A loss of the $75,000 level would be considered a bearish signal. In this scenario, a deeper correction is likely.
Alphractal founder and CEO Zhao Wedson, meanwhile, noted that Bitcoin is awaiting its final capitulation phase.
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