Why Bitcoin may have reached its bottom
Join Our Telegram channel to stay up to date on breaking news coverage The 2022 crypto bear market has been extremely difficult for crypto investors. But, if you’re not too late, bear markets can lead to fantastic buying opportunities. Following Bitcoin’s recent drop to a new 2-year low, many crypto traders are now wondering, “Has Bitcoin reached bottom ?” For most technical indicators to be meaningful, the current BTC price action needs more time to play out. However, last week’s record volume levels suggest that Bitcoin is nearing a major bottom . Why? Because record volume has historically led to large rallies in the months following. In this article, we’ll go over a few key charts to show you why Bitcoin may be nearing its bottom . Following months of sideways price action, Bitcoin sliced through support of its June 2022 low to set a new 2-year low last week. That previous support level of 17,600 (yellow line) has now turned into new,...