Bitcoin (BTC) barely recovered its losses on April 9 as fresh doubts emerged about the bull run continuing this month.
BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview
$56,760 “not a convincing bottom“
After sliding 5% on Wednesday, BTC/USD saw only a modest rebound to circle $57,000 at the time of writing,Cointelegraph Markets Pro and TradingView showed.
Following multiple failed attempts to crack resistance close to all-time highs, analysts were becoming wary of a further dip and a temporary halt to further price gains.
Filbfilb, co-founder of trading suite Decentrader, described this weeks current floor of $56,760 as not a convincing bottom.