Bitcoin (BTC) bounced at the pivotal $58,400 during Nov. 17 as the day continued choppy price action.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst: This isn’t the “real” bear market
The $58,400 level had been pronounced as a key line in the sand for bulls Tuesday, this necessary to hold in order to avoid deeper losses.
True to form, Bitcoin quickly returned above $60,000 after the retest to see local highs of $60,890 on Bitstamp.
“The real BTC Bear Market is still months away,” a hopeful Rekt Capital summarized.
Fellow trader Pentoshi forecast a return to a zone between $62,000 and $63,000 “over the next 1-3 days,” likewise urging calm over current