TechFlow, December 2: According to Cointelegraph, cryptocurrency analysts using Bollinger Bands and RSI technical indicators suggest that the bottom of this Bitcoin bear market will not fall below $55,000, contrary to some predictions of $35,000. Analyst "Sykodelic" stated that Bitcoin in the current cycle has not fully expanded, so a 75% correction is unlikely. Historical data shows that Bitcoin's price has never closed below the lower Bollinger Band on a monthly timeframe. CoinEx Chief Analyst Jeff Ko is more optimistic, believing Bitcoin may only retrace to the $65,000–$68,000 range, noting that increased institutional investor participation will lead to smoother and more orderly price adjustments in the future. Currently, Bitcoin has recovered from Monday's low of $84,000 to around $87,000.
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