Bitcoin Will Move Like a “Bulldozer” Once It Gains Momentum, Claims Analyst

Bitcoin Will Move Like a “Bulldozer” Once It Gains Momentum, Claims Analyst


Bitcoin’s price appears to have entered yet another consolidation phase as it trades between $11,400 and $11,600 Its present lack of momentum comes close on the heels of the strong move higher that it posted last week The resistance above its current price level is quite intense, and this may mark an attempt from bulls to garner greater buy-side support Where the market trends in the mid-term will likely depend largely on whether Bitcoin’s consolidation phase results in a breakout or a breakdown One analyst believes that Bitcoin will move like a “bulldozer” once it can determine which direction it wants to trend next

Bitcoin and the entire cryptocurrency market have lacked momentum throughout the past few days.

This consolidation has come about closely following the series of strong upwards movements seen just a few days ago that helped end its previous consolidation phase and push it past the resistance it faced between $11,000 and $11,200.

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One analyst does

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