If you're waiting for a bitcoin recovery, you may have to sweat it out for months. That's the conclusion of some technical specialists seeking method from the madness.
Valkyrie Investments, for one, says its research is pointing to an upside move - but that it isn't clear when. Yet chart analysis based on historical price patterns is far from an exact science, particularly when it comes to the young, fast and furious history of crypto. Fibonacci retracement patterns, which aim to identify support and resistance levels, suggest bitcoin has found a moderate level of support between $19,500 and $20,000, said Patrick Reid, co-founder of FX consultancy the Adamis Principle.
Source: Digital Coin News (digitalcoinnews.net)
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