Subsequent to the recovery of the Bitcoin price (BTC) movement from $7,700 to around $8,200 in the past 24 hours, technical analysts anticipate Bitcoin and other major crypto assets to recover in the short term.
Speaking to Cointelegraph, crypto trader Nick Cote said that there are plenty of times when the price history was at $7,600, which is likely to hold as a level of strong support for traders in the upcoming days. Technical analysts remain divided on the Bitcoin price trend and the rest of the crypto market, but most generally agree that there is strong demand to buy BTC in the mid-$6,000 to $7,000 region.