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Despite 21% drawdown, Bitcoin holders might witness a bull market if…
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As the month of December begins, investors and analysts are keeping a close watch on the king coin’s movements, in order to gauge the direction of the market. Well, in this regard, it would be interesting to know if Bitcoin actually encountered as much loss in November, as the market perceived it did.
$53k has been a critical level as both support and resistance since March. It has been tested multiple times and on the macro scale, it has, at times, shifted the course of BTC’s price action. Thus, Bitcoin’s bounce back from the same during the recent retest is a good sign for investors.
Bitcoin price action | Source: TradingView – AMBCrypto
This is so because November’s price action caused investors significant losses, pretty much equivalent
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