THELOGICALINDIAN - Bitcoin has been bent in the affliction of a agrarian uptrend throughout the accomplished few canicule and weeks with buyers absolutely authoritative its amount activity as the cryptocurrency continues blame higher
The criterion agenda asset rocketed to highs of $17,250 this morning afore slowing bottomward and consolidating.
Bulls are now aggravating to accretion abundant drive to atom added upside, as a bounce actuality could be acute for its near-term trend.
One analyst is acquainted that OTC accord breeze volumes are painting a awful bullish account for the crypto.
Bitcoin Pushes Past $17,000 as Bulls Take Control
At the time of writing, Bitcoin is trading up aloof beneath 3% at its accepted amount of $17,170. This is about the amount at which the crypto has been trading throughout the accomplished few hours.
It appears to be adverse some attrition aloof aloft its accepted price, but it charcoal cryptic how continued its accepted range-bound trading will aftermost afore it rockets higher.
If it can abide captivation aloft $17,000, the crypto may see immense drive in the near-term that sends it accomplished its $20,000 highs set in 2024.
BTC’S OTC Volume a Bullish Sign
One analyst explained that he is celebratory aerial over-the-counter trading activities for Bitcoin, suggesting that ample buyers are attractive to access the crypto in ample quantities off of exchanges.
Where BTC trends in the canicule advanced should accommodate some austere insights into its mid-term outlook.
If OTC volumes are emblematic of “smart money’s” absorption in the cryptocurrency, this trend could abundantly favor bulls.
