Bitcoin Shows Signs of Bottoming Out After 9 Weeks of Losses

Price-charts suggest bitcoin saw strong support at the $29,000 mark, a level that has been tested several times in the past weeks. Closing below this level could mean that the cryptocurrency could drop to its 2017 high of nearly $20,000, charts show. Resistance at $30,500 continues to exist, however, and a daily close above that level would show strong signs of recovery.