Bitcoin Price Analysis: Was $55K The Local Bottom? | Crypto Craft

  • Bitcoin Price Analysis: Was $55K The Local Bottom?

    From cryptopotato.com

    The technical indicators are showing potential signs of a bottom at $55.4K. Bitcoin’s price has built a base of support in the mid $50K area recently, with bullish divergence forming on the 4-hour RSI. It appears that bulls have stepped in and protected $56.2K, which is a technical level of support. The overall trend in on-chain metrics continues to remain bullish despite the recent volatility. The Technicals The longer-term trend and structure remain bullish despite the recent drawdown. BTC has been making higher highs and higher lows since the mid-cycle pullback bottom in July. In case of another liquidation, ... (full story)

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Goat
Nov 26, 2021 7:40am
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When did we start referring to support lines as "local bottoms"? That's what we used to call feminine gays who live in the neighborhood.
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