Three indicators suggest that Bitcoin price might have reached its floor: details BTC Crypto cryptocurrencies
. In a commentary over the weekend, on-chain analytics company Glassnode stated that"this" bear market is now firmly within historical norms and magnitude.Although Bitcoin and the rest of the altcoins may have taken a beating, these three indicators suggest that the recent wipeout in Bitcoin's price may have run its course.The TD sequential technical indicator, also known as DeMark, indicates that the majority of the Bitcoin sell-off has already occurred.
The goal of the linear regression channel technique is to locate statistically unexpected departures from a line that most closely approximates a sequence of Bitcoin price changes. Currently, Bitcoin has fallen three standard deviations below an upward-sloping regression line that began at the lows of December 2018, which is quite unusual. Some analysts interpret this to mean that the sell-off might have peaked.
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