These 3 Metrics Suggest Bitcoin Is Building Up Bullish Momentum

Bitcoin is finally rallying after weeks of flatlining in the low-$9,000s and high-$8,000s. As of this article’s writing, the asset trades for $9,750 — the highest price in about a month. Volatility remains low on a macro scale, according to analysts and volatility indicators. This indicates the asset will soon see a strong breakout. A senior analyst at Into The Block, a blockchain analytics and data firm, says there are signs that this breakout will be a bullish one. From a macro perspective, Bitcoin remains in between a rock and a hard place despite its rally towards $10,000. The asset remains below the $10,000-10,500 macro resistance yet still above the $8,500-8,800 support that would result in another downtrend if it is broken below. Yet analysts are observing that multiple metrics indicate Bitcoin has room to move higher. Bitcoin Has Room to Rally, Predict Metrics According to Lucas Outumuro, a senior…

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