Technical analysis

Two scenarios for a bullish reversal on Bitcoin

Julien Moretto – 27 Nov 2019

Panic selling on the cryptocurrency market this week. Bitcoin is losing 10.3% over the last seven days, trading around €6,300 ($7,000) on November 27. The price even approached €6,000 ($6,500) on November 25, with a very negative sentiment about the market, especially on social media. Altcoins are almost all dragged into this dowtrend spiral. Despite a bearish price action these last days, the level between $6,500 and $7,000 is located at a convergence of several technical signals that could lead to a bullish reversal. We reveal two scenarios that could confirm this reversal.

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