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Bitcoin ‘solidifies’ support at $58K as BTC price volatility hits 7-month low
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Bitcoin (BTC) hit multi-day highs of $58,300 overnight into Nov. 25 with investors betting on the reduced likelihood of a further major price dip.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging above $57,000 Thursday, printing a higher low on the daily chart.
This, trader and analyst Rekt Capital believes, shows support “solidifying” at current levels, with hope, therefore, remaining of a more convincing trend reversal.
“Bitcoin has certainly solidified its support here, producing a long downside wick into the bottom of the black wedging structure and rebounding strongly,” he told Twitter followers.
The mood was shared by crypto trading firm QCP Capital, which, on Wednesday, summarized the likely short-term
Read more on cointelegraph.comAbout this in other media
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Bitcoin risks lowest weekly close in 2 months but BTC buyers stock up at $53K cointelegraph.com /2 years ago
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