Bitcoin’s price correction appears to be nearing its end as realized losses rise above the weekly average, signaling a potential bottom for the current sell-off. BTC’s daily chart has shown three consecutive red candles, similar to the lead-up to the U.S. election in early November, when Bitcoin retested its 50-day EMA.
With BTC dropping below $93,000 on Dec. 20, independent analyst Captain Faibik noted that the correction is “almost done.” He attributed the decline to a bearish divergence between Bitcoin’s price and its RSI, suggesting the recent 15% drawdown is a healthy reset and likely to conclude soon.
Source: Cointelegraph
