A higher low happens in a down-trending market when the last dip is not as deep as the previous one. This could be a sign of trend reversal as selling pressure wanes.
The last dip saw BTC prices plunge to a low of $53,300, which was not as deep as the Aug. 5 crash to just below $50,000. The low before that was a plunge to $54,200 on July 5, so the asset seems to have found solid support.
This was observed by analyst ‘Mando’ in a post on X on Sept. 10, however, others pointed out that this doesn’t rule out further lower lows.
Did BTC just put in its first higher low in 6 months? pic.twitter.com/1Bn9fnwTSV
— Mando (@rektmando) September 9, 2024
$BTC
Causally putting in its first higher low in almost 200 days…
Potential rate cuts next week…
Fear & greed – extreme fear…
Bottom signals flying left and right….
Time to pray. pic.twitter.com/hvaMWYkb2h
— cousin crypto (@cousincrypt0) September 9, 2024
Analysts Remain Bullish
Investor and analyst ‘Kaleo’ was also b
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