Bitcoin’s 2020 uptrend has drastically shifted the market structure of BTC, which was previously shaping up to be incredibly bearish while it was hovering within the $6,000 region.
The subsequent rallies from this price region, however, have allowed it to climb all the way up to $9,200, which appears to be a key resistance level that bulls are currently in the process of contesting.
Now, one prominent analyst is noting that Bitcoin is currently on the brink of a massive parabolic rally that could send it to fresh all-time highs, although the cryptocurrency needs to break through a resistance level that currently sits roughly 64% above its current price.
Bitcoin’s Ongoing Rally Could Soon Turn Parabolic if Bulls Push it Above $14,200
At the time of writing, Bitcoin is currently trading down marginally at its current price of $8,650, which marks a notable decline from recent highs of $9,200 that were set when bulls attempted to propel the crypto towards the five-figure price region. Read More...