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, it’s ... (full story)