Did Bitcoin just bottom? BTC reclaims $19K as new rally gains steam By Cointelegraph



Did Bitcoin just bottom? BTC reclaims $19K as new rally gains steam

The price of (BTC) has started to rally once again on Dec. 13, rising above $19,200 after dropping to sub-$17,600 on Friday. The significant increase in buyer demand in that area indicates that BTC may have just seen a short-term bottom.

When Bitcoin initially dropped to around $17,700, on-chain analysts, including Edward Morra and Nik Yaremchuk, pinpointed large buy orders on Bitfinex and Coinbase.

Bitfinex order book for Bitcoin-USDT. Source: TradingLite
Bitcoin 4-hour price chart with trendlines. Source: Nik Yaremchuk, TradingView.com