Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next

Eq0E ShXMAQ2tn5 980x499

Bitcoin has seen some wild price action over the past couple of weeks, only being rivaled by that seen during past parabolic rallies, like the one in 2017 The cryptocurrency is showing few signs of slowing down anytime soon, as bulls have taken clear control of its price action Where it trends in the mid-term will likely depend on whether or not it can form a strong base of support within the lower-$30,000 region Bulls are trying to defend against a dip below this level, and its short-term consolidation has proven to be incredibly positive for altcoins like Ethereum Where the market trends in the coming few days will likely depend on whether or not BTC can enter a consolidation phase Bitcoin’s rally is truly turning parabolic. The cryptocurrency’s recent break above $30,000 sparked some massive inflows of buying pressure that allowed it to surge to highs of over $34,000.…

Read the original article here