Read Bitcoin BTC Lowe's Action Read Bitcoin

Bitcoin: Should you be bullish after the losses of the past two weeks?

Reading now: 482

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Analysts who compared the on-chain metrics of Bitcoin in 2023 to that in the 2018-2019 cycle found that Bitcoin could have formed its long-term bottom back in January.

Investors with high time horizons could be rewarded later this year.Read Bitcoin’s [BTC] Price Prediction 2023-24Analysis of the price action showed that, although there was significant sell pressure recently, bulls still have strength in the market.

The confluence of support in the $21.6k-$22k area underlined the possibility of a bounce in prices across the market.Source: BTC/USDT on TradingViewFrom June to November, Bitcoin traded within a range that extended from $18.9k to $24.2k.

The mid-point of this range lay at $21.6k and was previously tested as support in mid-February. The price has sunk to this region once again after a rejection at $25.2k.Even though the king of crypto was able to breach the range highs, the bulls were unable to defend their gains.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News