Bitcoin Bottom In? Retracement From $73,800 Is Deeper And Took Longer To Form
Summary
Bitcoin prices dropped, leading to liquidation of leveraged longs. An analyst believes Bitcoin may have found support after a deep and prolonged retracement, indicating a potential bottom. However, Bitcoin remains within a bearish formation, with a conclusive close above $62,000 needed to shift the trend in favor of bulls. Market forces, including Bitcoin ETF issuers decreasing holdings and the US Federal Reserve monitoring inflation, will shape Bitcoin prices.
