These Simple Factors Show the Bitcoin Bottom is In, But Bulls…

News BTC | Mar 26, 2020 at 5:30 PM
  • After multiple failed attempts to break above the heavy resistance that Bitcoin has faces around $6,900, the benchmark cryptocurrency has once again fallen into a bout of sideways trading around $6,600.
  • This consolidation phase is also occurring against a backdrop of bullishness within the traditional markets.
  • It is clear that analysts widely anticipate Bitcoin to see some further downwards momentum in the near-term, but it is important to note that the possibility of the $3,000 region being a strong long-term bottom is a bullish sign from a macro perspective.