THELOGICALINDIAN - Bitcoin has been assuming signs of backbone throughout the accomplished day with yesterdays slight declivity consistent in it seeing a abiding bender of alongside trading
Where the aggregated bazaar trends in the mid-term should depend abundantly on whether or not Bitcoin can abide captivation aloft the lower-$16,000 arena for an continued aeon of time.
One banker is acquainted that although BTC is trading about a aerial time anatomy attrition level, he believes that it is aflame signs of backbone on its lower time frames.
Whether or not that can advance BTC aloft $16,500 charcoal to be seen.
Bitcoin Bears Struggle to Gain Momentum as Uptrend Continues
At the time of writing, Bitcoin is trading up aloof over 2% at its accepted amount of $16,370. This is about the amount at which it has been trading throughout the accomplished few days.
BTC was able to column its account candle abutting aloft $16,000, a absolute development for bulls. This was the third-highest account candle abutting anytime apparent by the cryptocurrency. It was alone a few dollars abaft its second-highest close.
Its accepted backbone may be advancing about as a aftereffect of this.
BTC Nears Key Resistance as Bulls Roar
One banker said that although Bitcoin is aflame signs of low time anatomy strength, it is advancing a aerial time anatomy attrition akin that may apathetic its ascent.
How Bitcoin responds to these key levels throughout the anniversary should afford some ablaze on area it will trend throughout 2020.
