NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Resolves Celsius Lawsuit With Major $300 Million Settlement Deal
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Resolves Celsius Lawsuit With Major $300 Million Settlement Deal

Analytics: Bitcoin Price Bottom is Close, Bullish Reversal to be “Strong”

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Since Bitcoin (BTC) tapped $6,500 in late-November, analysts have been wondering if the bottom is really in. You see, the leading cryptocurrency bounced by 20% from $6,500, hitting $7,850 just a week back.

Related Reading: Eat My Shorts: Everything You Need To Know About The Bitcoin Bart Pattern

While some say that the fact that Bitcoin failed to crack the key resistance near $8,000 is decisively bearish, analytics companies in the industry are starting to believe that a bottom is forming.

Bitcoin May Soon Bounce

On-chain market intelligence firm Glassnode recently observed that there is a confluence of factors suggesting that the Bitcoin bottom is forming, if not here already.

They first noted that the Market Value to Realized Value (MVRV), the ratio between market cap and realized cap, is “consolidating towards one,” which implies that gains are being realized by Bitcoin investors. A one reading of the ratio often marks a bottom for the cryptocurrency market.

1/ Weekly on–chain market observations:

The bottom is close – and once it happens, the reversal will be strong.

MVRV is consolidating towards 1, which historically has indicated the bottom of #Bitcoin market cycles. Patience is key.https://t.co/lv8knFD0wV pic.twitter.com/7kwckER6Ri

— glassnode (@glassnode) December 7, 2019

There’s also Unrealized Profit, which “paints a very similar picture.” “As investors have less profit to realize, $btc sell pressure starts to diminish allowing for upwards momentum to build,” the firm wrote noting the importance of the metrics.

It isn’t clear if Glassnode’s analytics implies that Bitcoin will range in the low-$7,000s for a while, or if the cryptocurrency will see one flash move lower. Though, whatever the case, the “bottom is close—and once it happens, the reversal will be strong.”

The “strong reversal” narrative being pushed by the analytics startup is consistent with other analyses.

As reported by NewsBTC just days ago, the opening month was harrowing for Bitcoin (BTC) for one reason: the open of the December candle for the cryptocurrency’s price triggered a “sell” signal on the Market God v7 indicator.

Related Reading: Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky

This was seen as bearish, as the last time the indicator gave the signal was in April, which was prior to the move that took the price of Bitcoin from five digits to $3,150, before printing a buy signal near the bottom.

Though, according to Thies’ latest check of the indicator, the “sell” signal has dissipated as bears have failed to continue to push lower the price of Bitcoin.

Bottom Pattern Forms

That’s not to mention that a bottoming pattern is forming on Bitcoin’s chart. Popular cryptocurrency analyst Jonny Moe noted that BTC’s chart is currently building a bottoming pattern, which could show that its downtrend formed after the pump to $10,500 is over:

“The BTC inverse head & shoulders we saw last week has turned into an Adam on a potential Adam & Eve bottom. You could interpret the Eve as the beginning of a cup & handle continuation as well. Both of these are still just potential, but certainly there.”

The $BTC inverse head & shoulders we saw last week has turned into an Adam on a potential Adam & Eve bottom.

You could interpret the Eve as the beginning of a cup & handle continuation as well.

Both of these are still just potential, but certainly there. pic.twitter.com/8GzTvFT6BN

— Jonny Moe (@JonnyMoeTrades) December 7, 2019

Featured Image from Shutterstock
Tweet123Share239ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

záujem o trading bot rastie

Význam trading botov prudko rastie. Traderi siahajú po tomto Telegram botovi

Trading boty sa z pôvodne okrajového riešenia stávajú neoddeliteľnou súčasťou obchodovania s kryptomenami. Mladší traderi vo veľkom zapájajú AI nástroje,...

Nina Šefčíková 2 hours ago
암호화폐 청산 6억 2,400만 달러 돌파…비트코인 지지선 붕괴 반복

암호화폐 청산 6억 2,400만 달러 돌파…비트코인 지지선 붕괴 반복

핵심 요약 최근 24시간 동안 약 21만 3,938명 트레이더 포지션 강제 청산, 총 손실액 6억 2,441만 달러 규모 이더리움 청산 규모 최대… $ETH 4,002달러까지 하락...

Soyeon Lee 3 hours ago
Vrai krach crypto ? 20 Mds $ de positions liquidées en quelques heures.

Vrai krash crypto ? 20 Mds $ de positions disparus sur le marché en quelques heures

La séance de vendredi a viré au rouge vif. En quelques heures, la crypto a encaissé un choc violent qui...

evanss 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Matrixport-Linked Wallets Pull 4,000 Bitcoin From Binance Within 20 Hours – Details

Matrixport-Linked Wallets Pull 4,000 Bitcoin From Binance Within 20 Hours – Details

Sebastian Villafuerte 1 hour ago

3 cryptos sous-évaluées susceptibles d’entrer dans le Top 10 mondial

evanss 1 hour ago
Prévision prix XRP : jusqu’à 5 $ d’ici fin 2025 ? Niveaux clés et scénarios

Prévision prix XRP : jusqu’à 5 $ d’ici fin 2025 ?

evanss 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:クジラの買い集めで1ドル目標が再び注目される

    ドージコイン...

    4 hours ago
  • リップル 今後:SEC申請が示すETF承認間近の兆し、XRPが1,000ドルを目指す瞬間か

    リップル...

    4 hours ago
  • 仮想通貨プレセール最終週:新興トークンが上場前に100倍高騰の予測

    ...

    5 hours ago
  • 新しい仮想通貨が350万ドルを調達、専門家が「2025年最高のプレセール」と評価

    ...

    5 hours ago
  • 新しい仮想通貨が急上昇:トランプ・トークンが注目され、次世代ミームプロジェクトが4百万ドル目前

    ...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.