Based on Coinotag, technical analysis using Bollinger Bands and RSI indicators suggests that Bitcoin’s bear market bottom is unlikely to fall below $55,000. Analyst Sykodelic argues that historical patterns and current market dynamics, including growing institutional adoption, support this level as a key floor. Bitcoin has never breached the monthly lower Bollinger Band in past cycles, and RSI levels indicate limited expansion, making extreme retracements improbable. Current price action shows a 31% decline from the $126,000 peak, with support holding above $84,000. Analysts like Jeff Ko from CoinEx also predict shallower corrections due to increased market depth and reduced leverage.
Analyst Predicts Bitcoin Bear Market Bottom May Hold Above $55,000
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