Bitcoin Shows Signs of Bottoming Out After 9 Weeks of Losses

Bitcoin Shows Signs of Bottoming Out After 9 Weeks of Losses

Price-charts suggest bitcoin saw strong support at the $29,000 mark, a level that has been tested several times in the past weeks. Closing below this level could mean that the cryptocurrency could drop to its 2017 high of nearly $20,000, charts show. Resistance at $30,500 continues to exist, however, and a daily close above that level would show strong signs of recovery.

Originally Posted on: https://www.coindesk.com/markets/2022/05/30/bitcoin-shows-signs-of-bottoming-out-after-9-weeks-of-losses/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Shaurya Malwa

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