RATE Group | Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom
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Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom

25 Mar Bitcoin Price Still Following Exact Pattern That Marked 2018’s $3,000 Bottom

Posted at 10:23h in Bitcoin News by

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Over the past day or two, the price of Bitcoin has continued to show signs of strength, rallying as high as $6,800 on Tuesday afternoon (TradingView data) as global markets begin to show signs of recovery after weeks of downward price action.

Related Reading: House Democrats Propose ‘Digital Dollar’ in Move Big For Bitcoin: Here’s Why

As it stands, the price of the leading cryptocurrency sits at $6,600, up 73% from the $3,800 bottom and up over 20% in the past five days in and of themselves. While many have said that this is just a short-term rally before an eventual return to the $5,000s, where Bitcoin is likely to accumulate, there is a key textbook bottoming pattern that BTC is following, indicating that the rally is not done yet.

Bitcoin Continues to Trace Key Bottoming Pattern

Earlier this week, NewsBTC reported that Bitcoin has been following a textbook bottoming pattern — the bump-and-run-reversal bottom (BARR bottom) that can be found in Thomas Bulkowski’s…

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