RATE Group | Bitcoin finds a bottom after plunging from highs: technician
28994
post-template-default,single,single-post,postid-28994,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin finds a bottom after plunging from highs: technician

31 May Bitcoin finds a bottom after plunging from highs: technician

Posted at 20:11h in Bitcoin News by

[ad_1]

Bitcoin has recouped the week’s losses and is in rally mode as trade threats keep equities on the back foot. One market strategist says the major cryptocurrency may have finally found its bottom.

“When we step back, we see the first phase starting to happen. We think Bitcoin is starting to bottom off some very key support around $7,000 and we think it’s going to start a recovery process here,” Robert Sluymer, head of technical strategy at Fundstrat Global Advisors, told CNBC’s “Futures Now” on Thursday.

Bitcoin has touched its key support level around $7,000 several times this year and recovered. Most recently, prices moved as low as $7,054 this week before bouncing higher.

“That’s certainly the first step in a bottoming process – to see some sort of consolidation or a…

[ad_2]

Article Source

Tags:
, , , , ,