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Analytics: Bitcoin Price Bottom is Close, Bullish Reversal to be “Strong”

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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 Pattern

While some say that the fact that Bitcoin failed to crack the key resistance near $8,000 is decisively bearish, analytics companies in the industry are starting to believe that a bottom is forming.

Bitcoin May Soon Bounce

On-chain market intelligence firm Glassnode recently observed that there is a confluence of factors suggesting that …

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