Bitcoin is at a critical tipping point — it needs to hit $62,000 and stay there in order to avoid a retest of $49,000, according to an analyst note from one crypto exchange. However, several crypto traders believe Bitcoin (BTC) is unlikely to drop below $50,000 anytime soon. “The price action suggests a corrective pattern rather than a strong bullish reversal,” Kraken stated in an Aug. 21 technical market update viewed by Cointelegraph. At the time of publication, Bitcoin is trading at $60,691, having not reached $62,000 since Aug. 9, according to CoinMarketCap data. It further explained that …