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Bitcoin is “Clear for Liftoff” as Analysts Watch for a Move to Fresh Yearly Highs


Bitcoin is “Clear for Liftoff” as Analysts Watch for a Move to Fresh Yearly Highs

Bitcoin is firmly caught within the throes of an immense uptrend. This was clearly seen yesterday when the cryptocurrency rallied up to highs of $10,000 before facing a slight rejection that led it lower. This was a massive $1,000 movement that marked a significant extension of the momentum that was first incurred when the crypto rebounded from its capitulatory decline to lows of $8,100. Because buyers ardently defended this level and have since provided BTC with sustained momentum, it does appear that it is well positioned to see further upside. One trader is now noting that Bitcoin looks “clear for liftoff” as it flashes signs of forming an immensely bullish market structure.

Analysts believe this next movement could send it towards fresh yearly highs.

Bitcoin Sees Notable Overnight Upswing as Analysts Watch for Further Gains At the time of writing, Bitcoin is trading up just under 7% at its current price of $9,700. Overnight BTC tapped highs of just under $10,000 before facing a slight rejection that led it into the mid-$9,000 region. Read More...