Bitcoin May Need to Shed $2,000 and Tap Liquidity Region Before Rallying Higher

EpevPNhWMAYoGh8 980x646

Bitcoin has been caught in the throes of an immense bull market over the past few days and weeks This has allowed its price to multiple over the past few months, racing from summer/fall lows of $8,600 to highs of $23,700 that were set yesterday morning The strength seen by the cryptocurrency comes as its macro-outlook brightens, with institutions and large banks warming to the technology Furthermore, there are already some signs of an imminent wave of retail “FOMO” – with some notable musicians and celebrities tweeting and posting about BTC Despite all the signs suggesting that Bitcoin is about to see a 2017-style uptrend, one analyst is noting that he is watching for a $2,000+ pullback in the near-term Bitcoin and the entire crypto market is drifting lower today, with its price falling following the strong rejection seen at around $23,700 yesterday. The selling pressure here proved to be…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE