One bullish scenario for Bitcoin would be to retest $54,000 before a trend reversal, as the bulls might face an uphill battle regaining momentum in September.
Bitcoin (BTC) dropped below its critical 200-day EMA for the third time in August this week and below the psychological level of $60,000.
Its recent correction from $65,000 to $58,000 has further opened the possibility of a potential swipe of the recent lows.
So, how low can the price of Bitcoin go in the near term?
