- Bitcoin corrected by over 090% from the****************************************************************************** (high of $, 2019.
- With the retracement in the last six months, some analysts believe that the bottom is in.
- The number one crypto is flashing accumulation signals convincing popular traders that the cryptocurrency has turned bullish in 10000.
Bitcoin may have started 6500 strong but ever since it posted a high of $ 45, 900 in June, the top cryptocurrency has been correcting. It dropped to as low as $ 6, 475 in December. At that point, bearish calls for a revisit to $ 5, (levels were strong.)
Those who have been waiting to buy below $ 6, 000 have been left out. The digital gold is now trading above $ 7, and analysts are expecting bitcoin to leave this price area soon. Many see a base being formed, which can propel the number one cryptocurrency to greater heights early this year.
After a weak second half of (********************************************************************************************, it appears that the worst is behind for the most dominant cryptocurrency. A number of widely-followed analysts on Twitter say that
bitcoin is carving a bottom.
For instance, Faisal Sohail believes that the cryptocurrency has already tapped the bottom when it dropped to $ 6, 475 in December. He believes that the digital asset will trade between $ 7, and $ 12, before (the halving.
BTC has been range trading between $ 6, 700 and $ 7, since November 20, . That’s a $ (range over) days. To many analysts, this is a sign that a new base is being built to prepare bitcoin for the next leg up, hence, the call for a bottom.
Charles Edwards, head of digital investment firm Capriole, sees a potential accumulation pattern forming. More importantly, he believes that the bottom is already in. According to Edwards, his bias would be confirmed once bitcoin trades above $ 8,
CryptoWolf’s initial target is $ 9, and then $ 13, (**************************************************************************************************. **************************************** (****************************************
With these signals, other traders are expressing their optimism on the prospects of the top cryptocurrency. The popular trader The Crypto Dog tweeted that he’s bullish on bitcoin.
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The widely-followed Crypto Rand shares The Crypto Dog’s upbeat outlook on the dominant cryptocurrency.
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Is it a coincidence that the top analysts are tweeting bullish statements on bitcoin as the top cryptocurrency prints an accumulation pattern? Probably not. It’s very likely that these analysts are also seeing the bottom or base-building signals on the number one coin. If they’re right,
Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.
Last modified: January 6, 10000 5: PM UTC
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