Cryptoquant analysts have identified a second early bullish signal on Bitcoin’s chart, a pattern that has historically appeared during price bottoming phases before an uptrend reversal. Unlike the first signal, which was followed by another decline, the second signal emerged as the market was forming a bottom in preparation for recovery. Bitcoin is currently holding around the crucial $64,000 level, which could serve as a strong base for a major recovery provided it maintains momentum and attracts fresh buying. Analysts emphasize, however, that this signal does not confirm that Bitcoin has already bottomed, as confirmation would require maintaining key support and building sustained momentum.
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