🤔 Bitcoin Is Ready to Reverse Or Are We Awaiting a Breakout of $50K?

After a significant price decline of 10% over the last two days, Bitcoin is now ready for a reversal, according to some analysts. For example, crypto analyst Trader Tardigrade said that the CMO indicator is signaling a potential reversal for BTC.

🕯 Having reached an all-time high of $73,777 in March 2024, BTC has been moving in a descending channel ever since. The trader noted that whenever BTC reaches the bottom of the channel, the CMA technical indicator touches the rebound trigger zone and the #BTC price starts to recover.