$8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls
$8,000? It's not out of the question.
With no price pullback happening in the wake of Tuesday's sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark.
First, an expected pullback was not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world's largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588.
As the trading range tightens and the technical indicators regain composure, the probability of bullish continuation increases. At press time, the CoinDesk Bitcoin Price Index shows bitcoin is changing hands at $$7484.06 up 0.18 percent on a 24-hour basis.
I followed you and up vote. please followback @huanmv
Congratulations @asadsharef! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The results, the winners and the prizes