Bitcoin (BTC) is about to leave the falling wedge and to rise soon, according to the analyst, Raoul Pal (@RaoulGMI).
The leading crypto has left the falling channel since it reached the $20,000 mark at the end of 2017.
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.