Has bitcoin reached the bottom? a short answer is no.
two reasons from the technical standpoint that the bitcoin has not yet reached the bottom:
1. we have not yet seen the panic selloff with crazy high volume (aka the capitulation candle)
2. price bounced off at a long-term support level and then started showing weakness during consolidation. (hidden bear div on the daily)
so I believe bitcoin will reach a lower low in the coming months, and the next bottom could be around $2500,$1800, $1500 or $1200.
1. we have not yet seen the panic selloff with crazy high volume (aka the capitulation candle)
2. price bounced off at a long-term support level and then started showing weakness during consolidation. (hidden bear div on the daily)
so I believe bitcoin will reach a lower low in the coming months, and the next bottom could be around $2500,$1800, $1500 or $1200.
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