CandleFocus Bitcoin Flashing Bullish Reversal Signal, According to Trader That Nailed 2024 Pre-Halving BTC Correction
2025-03-10
Author: Content Editor
An analyst believes that Bitcoin is close to reaching a local bottom based on the oversold levels of its relative strength index (RSI). The analyst notes that in the past, Bitcoin has experienced trend reversals and strong rallies when the RSI dropped to oversold levels. Historical data suggests that Bitcoin may find a solid bottom between $78,000 and $71,700. The analyst also compares Bitcoin's potential double-bottom formation to the recent upward movement of the layer-1 protocol Cronos (CRO). A double-bottom structure is viewed as a bullish reversal pattern, indicating a potential price floor and an upcoming upward movement. Currently, Bitcoin is trading at $82,207, down by over 4% in the past day.
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