RATE Group | Bitcoin’s Next Macro Uptrend May Start Sooner Than You Think
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Bitcoin’s Next Macro Uptrend May Start Sooner Than You Think

10 Jan Bitcoin’s Next Macro Uptrend May Start Sooner Than You Think

Posted at 02:48h in Bitcoin News by

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After posting what appeared to be a grim break below $8,000 yesterday, Bitcoin’s bulls have thus far been able to step up and defend a key monthly support level that is the only thing stopping BTC from posting significantly further losses.

The cryptocurrency’s ability to hold above this level is bullish, and further confirms the possibility that it is in the process of forming a long-term bottom that could ultimately spark the next macro uptrend.

Bitcoin Finds Support at $7,777; Here’s Why That’s So Important

Bitcoin’s recent climb to highs of $8,400 was met with a significant amount of selling pressure that overwhelmed the crypto’s buyers and appeared to have resulted in a strong rejection.

This overt rejection led the cryptocurrency as low as $7,777 a few hours ago, just prior to bulls stepping up and ardently defending this level, which resulted in BTC climbing back towards $8,000. Although the crypto did fave a slight rejection at $8,000, it has still been able to hold…

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