Bitcoin is Poised to Rally Towards $17,000 Next as Outlook Grows Bright

Em0JSGlW4AcxFM 809x660

Bitcoin has seen a quiet weekend of trading, with the cryptocurrency struggling to gain any immense momentum as bulls and bears reach an impasse This has led to a prolonged bout of sideways trading around $16,000, with bulls and bears both struggling to gain control of its near-term Its recent price action has done little to provide any insights into where it might trend over a mid-term time frame That being said, one analyst is now noting that a rally up towards $16,600 and beyond could be imminent in the near-term He is pointing to one key level that must be broken above for it to rally higher Bitcoin and the aggregated crypto market are currently consolidating, with buyers and sellers both struggling to gain any control over its near-term outlook. Where the entire market trends next will depend on BTC, and there’s a solid chance that a prolonged bout…

Read the original article here