3 reasons why traders want to buy the Bitcoin price dip to $58.5K
Cryptocurrency traders are scrambling and scratching their heads after a sharp drop in Bitcoin (BTC) price triggered a market-wide sell-off that has nearly every token in the top-200 flashing red today.
Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin price dropped as low as $58,609 before finding buyers who bid the price back to $60,500.
Here’s a look at what some traders and market analysts are saying about this recent downside move and whether or not it is simply a shakeout or a sign that darker clouds are gathering.
Insight into BTC's daily price action was offered by options trader and pseudonymous Twitter user ‘John Wick’, who posted the following chart highlighting some important support and resistance zones.
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