BTC to Hold Its $58K Price Tightly to Avoid Pullback, Says Crypto Analyst

Bitcoin News

  • Lark Davis says Bitcoin’s price should be pinned tightly at $58,000 to avoid pullback.
  • Failure to do this can push BTC to its lower 50s.
  • Davis made this statement on Twitter today.

Ardent crypto trader and on-chain analyst Lark Davis seems to be following the Bitcoin (BTC) price movement closely these days. Today, through his daily analyses about cryptos, Davis mentioned that it would be nice if BTC maintains its daily close above $58,000 to avoid pullback.

Would be nice to see the daily close above $58,000, failure to do so could bring us back to the lower 50s.

However, failure to hold tightly above the $58K price mark can swiftly bring Bitcoin down to its lower 50s, according to him. Meanwhile, at the moment, BTC is currently trading at a decent price of $56,187.86 based on Coingecko today.

In some way, the current Bitcoin price action is gradually confirming Davis’ sentiments. If the flagship crypto fails to uphold its current performance, this will be a shred of clear evidence that BTC will face a downtrend of the 50s lower lows in the coming days.

Emphatically, Davis gave this Bitcoin news update specifically on Twitter which provoked lots of reactions from the Twitter Bitcoin believers. Many believe that regardless of the crypto market’s downsides and anything that will happen, BTC price will never fade, rather, it will survive for good.