Bitcoin (BTC) may see a corrective rally following losses this week, but it's still too early to call a bottom, the technical charts indicate.
The cryptocurrency has spent a better part of the last 24 hours trading in a roughly sideways manner in the narrow range of $7,900-$8,400, according to CoinDesk's Bitcoin Price Index (BPI). As of writing, the BPI is seen at $8,152. Meanwhile, the global average price, as calculated by CoinMarketCap, stands at $8,169 - up 0.15 percent in the last 24 hours.
The consolidation may have brought a little to the battered bulls and suggests a temporary low is in place at $7,676. Further, the shorter duration technical charts (prices as per Bitfinex) show potential for a relief rally.
https://www.coindesk.com/bitcoin-may-see-relief-rally-but-bottom-still-elusive/
