Bitcoin correction ‘almost done’ as realized losses rise above weekly average
Bitcoin traders’ realized losses have likely peaked, possibly marking the bottom of the current BTC price sell-off.
Bitcoin’s (BTC) daily chart has produced three consecutive red candles for the first time since the first week of November, which coincidentally was the lead-up period to Donald Trump’s US election victory.
Another similarity between the last time three or more red candles were observed on the daily chart was that Bitcoin retested the 50-day EMA level.
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
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Author: Biraajmaan Tamuly
