The Bottom Might Just Be In, Trader Suggests
As much as bears like to harangue that Bitcoin (BTC) has yet to bottom yet, more and more analysts are convinced that there is a high likelihood that the collapse to $3,100 might have been it for this cycle.
Jonny Moe, a well-followed trader and technical analyst in the crypto industry, recently touched on why this is the case, explaining this theory in a three-part Twitter thread that broke down this topic to the nitty-gritty. Jonny, who sports a following of over 15,000, explained that Bitcoin is about to see its first bullish 20-day and 200-day simple moving average (MA) cross since October 2015, which came as this budding market began its recovery to eventual new all-time highs.
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