Bitcoin hitting $59K would be ‘extremely healthy,’

A correction continues for Bitcoin during Friday, but it may not be over yet, and analysts are far from worried.
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Bitcoin hitting 59K would be ‘extremely healthy,’ says trader as BTC price retreats
MARKET UPDATE
Bitcoin (BTC) dipped below $64,000 on Nov. 12 as its comedown from new all-time highs continued to unnerve.


BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
BTC: Consolidation becomes down move

Data from Cointelegraph Markets Pro and TradingView captured fluid market conditions on Friday, with BTC/USD acting in a $2,000 range.

The pair had spent the previous day tracing sideways — behavior that was now showing signs of breaking down.

For popular analysts, however, such BTC price action was not only expected but welcomed.