3 reasons why traders think Bitcoin price bottomed at $29,500 By Cointelegraph

0
42

3 reasons why traders think Bitcoin price bottomed at $29,500

Traders are showing a renewed sense of hope after (BTC) price held onto the $32,000 range for what could be the second day in a row.

Data from Cointelegraph Markets Pro and TradingView shows that bulls have managed to regroup at the $32,000 level where Bitcoin has hovered throughout the day but traders a patiently waiting for further confirmation that Bitcoin may be in the midst of a trend reversal before fully re-entering the market.

1-day chart. Source: TradingView
Bitcoin 1-month futures basis. Source: Delphi Digital
Bitcoin price vs. exchange inflows. Source: CryptoQuant