Bitcoin’s Technicals Show Signs of a Bottom, Possible Short Term Rally: Analysts

Key technical parameters signal that top cryptocurrency Bitcoin (BTC) may be finding a bottom, and could even be headed for a short term price hike, according to analysts at Bloomberg Jan. 22.

Bitcoin’s GTI Global Strength Technical Indicator is now at 35.6, which Bloomberg notes is “nearing oversold levels,” and the lowest level since December. The parameter indicates the coin has robust support at $3,000-$3,100, and is stabilizing around the $3,500 mark.

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