On August 1, analyst PlanB stated that Bitcoin's July closing price was $62,818, with the 200-week moving average at $63,000, indicating that Bitcoin has entered a base-building phase, which typically lasts 1 to 3 months and may see BTC decline to lower levels.
PlanB: Bitcoin Enters the Bottom-Building Phase, Expected to Last 1–3 Months
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Summary
Bitcoin breaking news: On August 1, analyst PlanB noted that Bitcoin closed July at $62,818, near its 200-week moving average of $63,000. He stated that Bitcoin is now in a bottom-building phase, which typically lasts 1–3 months. During this period, BTC could decline further. Bitcoin news suggests traders should prepare for upcoming short-term volatility.
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