The Last Time This Indicator Flashed, Bitcoin Dropped 38%; Now It’s Back

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Bitcoin has been facing some turbulence as of late, with the cryptocurrency’s price action greatly favoring bulls Each dip has resulted in aggressive buying pressure that leads it to new all-time highs, with the ongoing bull market turning into a full parabolic ascent The crypto is fast approaching $30,000, with this being a key level that could prove to be a major hurdle for the crypto to break above One analyst spoke about BTC’s outlook, explaining that where it trends in the mid-term will depend largely on its reaction to a rapidly emerging trend The last time the indicator he references flashed, the cryptocurrency saw a massive 38% retrace right before it was able to recover and see exponential growth Bitcoin has been caught in the throes of a wild bull market over the past few months, and it is showing few signs of letting up as bulls continue absorbing…

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