RATE Group | These signs show bitcoin may finally be bottoming, chart watcher says
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These signs show bitcoin may finally be bottoming, chart watcher says

04 Jun These signs show bitcoin may finally be bottoming, chart watcher says

Posted at 16:39h in Bitcoin News by

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It’s been slim pickings of late for owners of the No.1 digital currency, but coming off a subdued week, there are signals that more fruitful times may lie ahead, says one technical analyst.

“While it is premature to conclude the correction is over, there was a positive technical development this week suggesting the first stage of a three-stage bottoming process is developing,” said Rob Sluymer, technical strategist at Fundstrat Global Advisors, in a note to clients.

According to Sluymer, the three stages of a bottoming are a deceleration of the downtrend, a move back above the downtrend and then a…

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