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  • BTC/USD makes further progress to the north, away from the bottom of the 12-week range.
  • Fundstrats’s Tom Lee, big Bitcoin bull, believe that Bitcoin has reached its bottom.

 

Bitcoin price made further progress in recovery, after some volatility was seen to the downside at the start of the week. It was seen holding minor gains in the latter stages of trading on Wednesday, after initially being on the back foot.

The Bitcoin bull, Fundstrat’s Tom Lee was recently speaking to CNBC, commenting on the recent behaviour of Bitcoin. He noted that he was pleasantly surprised by the stability observed for the cryptocurrency market, further adding he believes Bitcoin has reached its bottom.

BTC/USD has traded within a range-block since the start of September, swinging between $6800 down to $6080. The price picked up some momentum, after managing to find some buyers towards the bottom of the range on Monday. Near-term resistance is seen within the $6400 territory. Support can be eyed at the $6200-100 range.

BTC/USD daily chart