Pressure Test That Signaled Bitcoin (BTC) Bull Run Flashing As Ethereum and XRP Hit Crucial Lines

An indicator that accurately forecast Bitcoin’s rise to $10,000 in January is once again suggesting a rally may be on the horizon. The DVAN buying and selling pressure gauge has identified a positive divergence and has flipped bullish, according to analysts at Bloomberg. The indicator assesses the underlying momentum of an asset in order to identify buying and selling pressure. Bloomberg Intelligence analyst Mike McGlone says he expects BTC to stabilize this year and pass a “key test for Bitcoin’s transition toward a quasi-currency like gold.” Meanwhile, the co-founder of Blockroots, Josh Rager, says BTC will need to hold onto its current line of support at around $6,700 to prevent another move to the downside. Read More...

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