Bitcoin has seen a strong reversal since last week’s highs. The cryptocurrency, which traded as high as $7,470 last week, is now changing hands for $6,550 — 12.5% below the highs, but nearly 80% higher than the $3,700 bottom seen in mid-March.There’s a growing sentiment that recent weakness is a sign that there will soon…
Since Bitcoin (BTC) tapped $6,500 in late-November, analysts have been wondering if the bottom is really in. You see, the leading cryptocurrency bounced by 20% from $6,500, hitting $7,850 just a week back.Related Reading: Eat My Shorts: Everything You Need To Know About The Bitcoin Bart PatternWhile some say that the fact that Bitcoin failed to…
At the start of the year, it was clear that Bitcoin was in an accumulation phase, where “smart money” buys up an asset in anticipation of a sizable increase in value during the following markup phase. According to the Wyckoff method, after the price of an asset is sufficiently marked up, comes the distribution phase…