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Bitcoin pulled back sharply from $124K to $80K, and is hovering around $90K at the moment. The real question traders are asking: can we expect a recovery rally from this level, or is there more downside to come?
The price action tells an interesting story. After that significant drop, BTC is now consolidating in the $85-95K zone. Whether this becomes a launchpad for the next leg up depends on how the market responds to this key support area. Some see it as a healthy correction within a larger uptrend; others worry about deeper retests.