Bitcoin’s price is finally showing some signs of recovery. The questions to now consider are whether the recent correction is over and if new all-time highs are still possible. Let’s dive in.
Considering yesterday’s bullish candle, the market might be constructing a bottom near the $60K mark and could soon begin a new rally, igniting excitement and intrigue once again. However, this can only be considered as the first step for a bullish reversal, as the price should keep above the trendline.
While Bitcoin’s price has seemingly found a bottom after weeks of bearish price action, analyzing on-chain metrics can yield beneficial insight into whether this is really the case.
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