Although the chaos in the cryptocurrency market has died down, the consequences of the FTX implosion are still felt across the landscape, including Bitcoin (BTC). However, BTC is nearing the $17,000 mark, and indicators suggest there is hope for a bullish move in the first half of 2023.
Indeed, the money flow index (MFI) for Bitcoin is demonstrating a similar chart pattern compared to the asset’s previous two bottoms, with an expected ‘bullish turn’ in the period between one to five months, pseudonymous crypto and stock market analyst Trend Rider noted on December 27.
Bitcoin price action and money flow index analysis. Source: Trend Rider
Is the bottom finally in?
Meanwhile, CryptoNoob has observed that the maiden decentralized finance (DeFi) asset was “trading in the oversold zone, which is historically where the bottom forms,” and which indicates an upward movement is likely in the future. At the same time, Trader Tardigrade stated that Bitcoin was in an ascending triangle
We współpracy z: https://finbold.com/bitcoin-price-history-hints-at-incoming-bullish-turn-in-h1-2023/
