Did Bitcoin just bottom? BTC reclaims $19K as new rally gains steam
Bitcoin surpassed $19,000 after bottoming out at $17,600 as traders anticipate a broader BTC rally. The price of Bitcoin (BTC) has started to rally once again on Dec. 13, rising above $19,200 after dropping to sub-$17,600 on Friday. The significant increase in buyer demand in that area indicates that BTC may have just seen a short-term bottom.When Bitcoin initially dropped to around $17,700, on-chain analysts, including Edward Morra and Nik Yaremchuk, pinpointed large buy orders on Bitfinex and Coinbase. As soon as the BTC price briefly dropped below $17,700, it started to rebound quickly,....
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Bitcoin price declined heavily, but it found support near $16,300 against the US Dollar. BTC is likely forming a double bottom pattern and it could rally if it clears $17,500. Bitcoin is holding the $16,300 support zone and trading above $17,000. The price is facing a strong resistance near $17,500 and it is well below […]