Bitcoin Price Is Primed to See a Bounce
Bitcoin is primed to bounce due to four technical reasons shared by a technical analyst. These are as follows:
BTC Remains Macro Bullish
Even if a bounce isn’t sustained at current prices, Bitcoin’s macro outlook remains optimistic per analysts.
One trader shared the chart below, which shows that Bitcoin has bounced off a pivotal macro level in a sign that the bull trend remains intact:
Chart of BTC's macro price action with analysis by crypto trader HornHairs (@CryptoHornHairs on Twitter). Chart from TradingView.com
The fundamentals of BTC also remain bullish, suggesting the asset has room to rally. Raoul Pal, CEO of Real Vision, commented:
Bitcoin may see further weakness in the short term, but most analysts remain optimistic about BTC’s long-term trend.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts fromTradingView.com Bitcoin Could Undergo a Strong Bounce For These 4 Reasons
Originally from Bitcoinist.com https://ift.tt/3lOBHUZ
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