Crypto analyst CryptoCon has revealed a key level to watch out for as Bitcoin attempts to break critical resistance levels. The analyst suggested that a drop to this price level may not be bad for Bitcoin and could instead be necessary for it to finally make that price rally. $57,938 Is The Price Level To Keep An Eye On CryptoCon mentioned in an X (formerly Twitter) post that $57,938 is the “new price to watch for the 20-week EMA (Exponential Moving Average).” He noted that such a price drop might be necessary, stating that “boredom and sideways price action allow room for growth.” Based on his analysis, any potential price decline that Bitcoin experiences is a healthy correction and shouldn’t be considered a bearish reversal. Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price? Meanwhile, Bitcoin is showing impressive strength on the charts, with CryptoCon stating that the flagship crypto “continues to hold the 20-week EMA as support while visiting the almost absolute bottom of the cycle 4 DMI support zone.” CryptoCon’s positive outlook ..
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