Bitcoin Posts “V-Shaped Recovery” as Bulls Erase Overnight Losses: What’s Next

Bitcoin just posted another shocking price movement, with the cryptocurrency’s latest rejection at $19,800 sending it as low as $18,300 this morning before bulls stepped up and reversed its downwards momentum.

This caused the cryptocurrency to erase nearly all of the losses that came about due to this recent movement, with buyers once again targeting a move up towards its $19,800 resistance.

This “V-shaped recovery” significantly bolsters the cryptocurrency’s underlying strength, as it indicates that bears are plagued by underlying weakness at the moment due to their inability to gain any control over the crypto’s price action.

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