As reported by The Crypto Basic, Bitcoin is trading near $97,242 after a 6.2% decline in the past 24 hours, extending its monthly loss to 13.6%. The price has dropped from a recent high of $111,000 to levels last seen in May. Analyst Income Sharks has revisited a 2022 chart that identified a major buy zone between $17,000 and $20,000, suggesting that current levels may offer a similar opportunity. Technical indicators show Bitcoin is above the support trendline of a falling wedge, but faces resistance from the 21-day and 50-day moving averages. CryptoQuant founder Ki Young Ju noted that whales have been selling since prices surpassed $100,000, while Bitcoin ETFs have seen $963.7 million in net outflows over the past nine trading days.
Bitcoin Near $97,000 as Analyst Revisits 2022 Buy Zone Call
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