$BTC

Today, Bitcoin peaked at 94,625 and then dropped to 93,440. The fluctuations have seen the price hovering around 93,500 several times throughout the day, testing this support level. Interestingly, a double bottom structure has formed, and the candlestick chart frequently shows long upper and lower shadows. What does this indicate? It indicates that the bulls have not been idle at the low levels, actively defending, while the bears find it difficult to push the price down further.