Bitcoin is finally seeing some bullish price action and it's about time!
After dropping all the way down to $3,400 prices are now sitting at roughly $4k.
This is one of the first significant bounces we have seen since we broke the $6k mark to the downside.
Bounce baby bounce!
(Source: https://steemit.com/bitcoin/@morkrock/that-bitcoin-bounce)
What does this mean?
Well, to me, this is very interesting.
Often prices tend to have "V" bottoms. Meaning that they bounce significantly off the lows and don't give very good opportunities to buy the lows.
Does that mean these are the lows here, around $3,400?
I am not ready to say that just yet, but this is the strongest bounce we have seen since this most recent drop began.
I would like to see a bit more volume for more of a confirmation, but the sell off occurred on small volume as well so perhaps a volume surge is not as important as one might think.
If prices can hold up around $4k for a bit, we might have seen the lows...
Stay informed my friends.
Image Source:
https://news.bitcoin.com/bitcoin-volatility-match-fiat-two-years/bitcoin-bounce-614xa/
