Bitcoin is up for its bottom before an upward trend.
The pricing charts used by expert to predict the price moves in future highlight a positive signal and a buying divergence upon its ranging over the price and trend lines.
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
$6,000 is a firm support for Bitcoin; so, the downtrend would last or the support would be broken. Following February, the levels of $6,000 were tested by the cryptocurrency without a success. Bitcoin’s last entrance in this price range was a rally of an approximate 20%.
Bitcoin’s Bottom As A Target for the Sign Bulls
As a result of the increasing regulatory scrutiny and concerns with regard to the delayed adoption of digital assets, cryptocurrencies, such as Bitcoin and Ethereum, have been boldly trading at lower levels. Last week, the SEC looked for comments about a listing request, resulting a delayed Bitcoin ETF. Besides, the founder of Galaxy Digital LP, Michael Novogratz, as an infamous crypto investor, stated a bottom for cryptocurrencies. This year, Bitcoin is down by 54%.