THELOGICALINDIAN - Bitcoin and the absolute cryptocurrency bazaar are currently bent in addition beachcomber of able buyside burden which has accustomed BTC to best 24000 for the aboriginal time today
Where the absolute bazaar trends in the mid-term will depend abundantly on whether or not BTC can acquisition any able abutment about $24,000, as beasts and bears are currently aggressive for ascendancy of this level.
One banker is acquainted that the crypto could see a aciculate breakdown afterwards allowance the clamminess at its contempo highs.
Bitcoin Rallies Higher as Market-Wide Uptrend Continues
At the time of writing, Bitcoin is trading up aloof over 3% at its accepted amount of $23,850. This marks a notable acceleration from its contempo lows of $22,800 set aloof a amount of hours ago.
Where it trends in the mid-term should depend abundantly on whether or not BTC can accretion a solid ballast aloft $24,000.
So far, it does not arise that beasts accept abundant backbone to do this, as it rallied as aerial as $24,200 afore adverse a able rejection.
Trader Claims BTC is Likely to Face Intense Selling Pressure
One analyst explained in a contempo tweet that there’s a able achievability Bitcoin plunges lower in the canicule ahead, with the cryptocurrency allowance out a key clamminess arena with its latest assemblage accomplished $24,000.
Unless Bitcoin can cast this akin into a abject of support, there’s a able achievability that it will consolidate or see some near-term weakness.
