Bitcoin Watch – Fundstrat head of technical strategy satd Bitcoin has found a floor

31 May, 2018

Bitcoin seems to have recovered from the week's dive and is rallying. Fundstrat Global Advisors head of technical strategy Robert Sluymer told CNBC's "Futures Now" that the major cryptocurrency may have finally found its bottom. Mr Sluymer said: "When we step back, we see the first phase starting to happen. We think Bitcoin is starting to bottom off some very key support around USD7,000 and we think it's going to start a recovery process here." Bitcoin has dropped to its support level of around USD7,000 quite a few times this year and recovered. "That's certainly the first step in a bottoming process – to see some sort of consolidation or a basing taking hold," added Mr Sluymer.

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