Скачать или смотреть Bitcoin Bulls Defend Key Trendline as Investors Express Extreme Fear

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After incurring a bout of capitulation throughout the latter part of yesterday, Bitcoin (BTC) has been able to post a decently strong rally that has allowed it to recapture its position within the lower-$7,000 region, and its recent lows may ultimately mark a long-term bottom for the crypto. It is important to note that the latest rally came about after the cryptocurrency tapped a key trendline that kicked off the 2019 bull run earlier this year, and a continued defense of this level could help bolster the crypto’s mid-term price action. At the time of writing, Bitcoin is trading down marginally at its current price of $7,200, and it has been able to erase a significant amount of the losses that were incurred yesterday evening when BTC dipped to lows of $6,500. It appears that $6,500 is a strong level of support for the cryptocurrency, as its visit to this region was instantly followed by a strong influx of buying pressure that sent it back to the $7,000 region, leading some analysts to believe that this could mark a mid-term bottom. One factor that should be carefully considered while determining whether or not $6,500 is a bottom for Bitcoin is that the “fear and greed” index – which is widely viewed as a contrarian indicator – is showing that the market sentiment surrounding BTC is “extreme fear.”Mr. Anderson, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, saying:In addition to the extreme fear currently overshadowing the crypto markets – which may prove to be a bullish counter-indicator – Mr. Anderson is also noting that BTC’s bulls are ardently defending the trendline that sparked the bull run seen in early-2019. How Bitcoin trades in the coming few hours may illuminate how it will trend going into the final weeks of 2019.

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