Latest Bitcoin Dip Did Little In Offsetting Wildly Bullish Bias; Here s Why
Bitcoin dropped immensely after setting up a record high of $64,896.75 as some traders decided to secure short-term profits.
The correction nevertheless did little in offsetting the benchmark cryptocurrency’s upside bias. Analysts remained convinced that the BTC/USD exchange rate would rebound from its sessional lows to pursue its uptrend as it was. One of them is Dr. Jess Ross.
The founder/chief executive at Vailshire Capital tweeted earlier Thursday that Bitcoin remains “wildly bullish,” citing an ascending triangle to back his upside sentiment. In retrospect, the BTC/USD exchange rate was trading inside the bullish continuation pattern, with the area between $60,000 and $61,000 serving as its interim resistance.
Capital Manager: Bitcoin Holding Above $52K Puts Crypto On Track For $100K newsbtc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsbtc.com Daily Mail and Mail on Sunday newspapers.