Technical analysis of Bitcoin‘s price movements in the past 10 days shows a massive bull run to lead up to this point, having performed poorly since the December/January downturn.
This could well be a turning point for Bitcoin; with the bulls out in force, and long/short positions giving investors a reprieve, the next 24-48 hours are critical for the struggling cryptocurrency.
If Bitcoin can continue it’s trend and break above $US8,500, this may signal further rises similar to those seen in November/December 2017. It comes with great risk, also, in that ETF traders have placed large numbers of short orders – which could well be liquidated if lagging investors jump in and action their FOMO reflexes.
What do you think Bitcoin will do in the next 24-48 hours, and where is it headed next? Comment below to join in the discussion!
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