Bitcoin Charts Point to $17,500 Bottom on the Horizon

Bitcoin Settles at $39K After Stripe Onboards Crypto
  • The Bitcoin Twitter community discusses a possible bottom for Bitcoin.
  • Some say the charts are pointing to a $17,500 bottom for Bitcoin (BTC)
  • Presently, the price of Bitcoin (BTC) is still staggering at the $20,000 area.

A popular Bitcoin trader and crypto analyst sends crypto Twitter into a frenzy with his latest Bitcoin chart analysis. The main message from his charts is that Bitcoin is finally showing signs of a bottom. 

In particular, he says that the Bitcoin (BTC) chart is forming an Adam & Eve pattern. In addition, he says that at the moment, the crypto is holding the neckline at about $20,000. The tweet got a lot of attention and engagement in responses. 

To highlight, one response came with a chart of its own. This tweet draws attention to a CME gap that will potentially be filled between $18,400-$19,100. More so, it says that this move will likely take place within the coming few days. 

After which, the tweet continues to say, the crypto will see a ‘real move up’. More so, it may be accompanied by a possible flash crash. By which, the tweet concludes, the move will point to a macro bottom which will be $17,500. 

Another tweet focuses on the gravity of the current bearish market. This tweet says that in a bear market bearish signs are more likely. Hence, once the trend changes to a bull market, we will see more bullish signs. 

What’s important here is the when, and many crypto enthusiasts are patiently speculating the answer to that question. According to CoinGecko, the price of Bitcoin (BTC) is currently $20,153. No doubt, this crypto winter is shaping up to be a long, and cold one. However, many companies, retailers, and apps are continuing to show their support and faith in Bitcoin. Just recently, crypto.com enabled Apple Pay crypto purchases on its platform. At the moment, only the majority of the USA is subject to this feature. The feature will eventually be made available to others. 

Tags:
disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.