According to analyst Willy Woo, Bitcoin (BTC) must break above $79,000 and hold above $65,000 to confirm a structural bottom, with Woo giving the $79,000 breakout a 30% probability. The $79,000 level represents the cost basis of recent investors; if BTC flips it into support, it would signal the end of the ongoing bearish phase. Woo cautioned that if Bitcoin falls below the mid-$60,000 level, a more severe correction may occur. Bitcoin was trading at $76,237 at the time of writing, down 1.3% on the day.
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