Bitcoin price this week exploded through resistance at $10,000 and blasted to a high of $11,400. The cryptocurrency is now consolidating below that level, gearing up for what one crypto analyst expects to be a follow up nearly one and a half times the size of this week’s rally.
Will the cryptocurrency close a “Three White Soldiers” formation, and if it does, what can be expected for price action in the days and weeks ahead?
Bitcoin Price Weekly Structure Looks Set For Bullish Uptrend Pattern, Claims Crypto Analyst
In response to the United States’ second round of stimulus money flowing into free markets, gold soared to a new record, while silver, Bitcoin, and cryptocurrencies went on a tear.
These hard assets are expected to continue to perform in response to hastening inflation. Cryptocurrencies like Bitcoin are also breaking out from a three-year bear market, providing them with much pent up momentum.
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