THELOGICALINDIAN - Bitcoin is assuredly extending its contempo uptrend afterwards a abiding bender of alliance aural the upper16000 region
The affairs burden that ahead existed actuality was acute and catalyzed assorted selloffs. The breach aloft this akin is technically cogent and could announce that added upside is imminent.
If this akin is addled into support, BTC could activate a beginning leg college that brings it anytime afterpiece to its best highs aural the upper-$19,000 region.
One banker is pointing to assorted factors that all assume to announce that addition advance college is a astute possibility.
He alike addendum that a move appear $16,700 could be imminent.
Bitcoin Shows Signs of Strength as Bulls Shatter $16,000
At the time of writing, Bitcoin is trading up aloof over 2% at its accepted amount of $16,050. This marks a notable billow from contempo lows of $14,800 set afterward a bounce actuality a few canicule back.
Where BTC trends abutting will depend absolutely on how it continues reacting to $16,000. If it plunges beneath this akin and sees a able retrace, it could beggarly that added downside is imminent.
Trader: These 3 Factors Suggest BTC Has Room to Rally
One analyst afresh aggregate three trends that accept led him to accept that upside is approaching for Bitcoin.
He batten about these trends in a contempo tweet, pointing to the abridgement of a adamantine bounce at this level, abrogating funding, aloof premiums, and a abiding OI as factors that favor bulls.
The advancing few canicule should accommodate insights into the backbone of this movement, as all eyes are carefully watching to see whether or not Bitcoin can authorize any able abutment at $16,000.
