Bitcoin (BTC) Have Broken the Falling Wedge Targeting the New Heights, According to an Investment Strategist

Usman Salis

Bitcoin (BTC) is about to leave the falling wedge and to rise soon, according to an analyst.

Image source: unsplash.com

Bitcoin (BTC) is about to leave the falling wedge and to rise soon, according to the analyst, Raoul Pal (@RaoulGMI).

Image source: Twitter@RaoulGMI

The leading crypto has left the falling channel since it reached the $20,000 mark at the end of 2017.

Image source: TradingView BTC

On the daily time frame, Bitcoin (BTC) has bounced off the support at $9,000 against the medium trading volume. Thus, there is a high concentration of liquidity which means that growth is more likely than the fall. In addition, the bullish divergence has been formed on the Relative Strength Index indicator confirming the opportunity of continued growth. If bulls can keep the leading crypto at the current levels, the next resistance at $9,798 maybe achieved in August of 2020.

Bitcoin is trading at $9,390 at press time.

#BTC #Bitcoin #Bitcoin Price #Crypto Trading

Usman Salis E-mail

Usman has been in the blockchain space for 9 years and written dozens of articles about crypto in his career. He wants to put crypto on the global map.