Bitcoin Bounced Off $80,000, But No Reason To Be Bullish, Analyst Says

Bitcoin (CRYPTO: BTC) has bounced back toward the $87,000 zone, hinting at early signs of buyer interest at major weekly support.

But according to prominent analyst Trader Mayne, traders shouldn’t get too excited.

What Happened: In his latest podcast, Mayne noted that Bitcoin’s weekly close back inside a fair value gap is the strongest bullish signal seen in over a month. Still, the broader trend remains clearly bearish.

He argued that relying on the monthly chart is misleading, since monthly bearish flips often appear …

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