Bitcoin price analysis: BTC close to a bottom in price, but bulls will have to be patient
CoinDesk
Analyst James Check suggests Bitcoin is showing bottom formation characteristics, urging accumulation despite potential short-term price stagnation.Summary
Prominent on-chain analyst James Check suggests that Bitcoin is exhibiting textbook bottom formation characteristics across multiple indicators, trading at levels historically preceding significant recoveries, even as the price dipped below $63,000 toward the $60,000 low. Check argues that while price action might be frustratingly sideways, the asset is largely "de-risked." He posits that if mean reversion models are still valid, investors should ignore bearish sentiment and quietly dollar-cost average, comparing the current setup to the long accumulation period before the 2022 market recovery. Check concluded by asking, "If you're not actively accumulating bitcoin at this stage, then when?"
(Source：CoinDesk)