Likelihood of Bitcoin Setting “Higher Highs” Grows as Bulls Build Momentum

Likelihood of Bitcoin Setting “Higher Highs” Grows as Bulls Build Momentum


Bitcoin has flashed some signs of intense strength throughout the past day, with the cryptocurrency recouping some of the losses that came about as a result of its decline from $12,400 to lows of $9,900.

Bulls now appear to be aiming for a move up towards $11,000, which previously held strong as a level of support during its descent.

If this resistance level is flipped back into support, it could provide a strong base for the cryptocurrency to rebound off of, potentially allowing BTC to reclaim its long-held position within the upper-$11,000 region.

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While speaking about the benchmark digital asset’s near-term technical outlook, one analyst observed that it is currently flashing some signs of reversing its recent downtrend.

This indicates that it may now be well-positioned to see significantly further upside in the near-term, potentially rallying back up towards, or even past, its previous yearly highs.

Bitcoin’s Technical Outlook Grows Bright as Bulls Take Aim at $11,000 

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