Bitcoin has been flagging ever since it peaked at ten thousand three hundred dollars on Wednesday

over the past few days, Bitcoin has been flagging ever since it peaked at ten thousand three hundred dollars on, Wednesday it has been mostly downhill, with the leading cryptocurrency falling, off a cliff on that very same day two,$9,250 in an extremely short period of, time despite this bearish price action.

which has been somewhat negated by a recent, recovery to $9,900 analysts are, extremely optimistic about the medium-term outlook for the crypto one prominent analyst suggested, that the coming months could see BTC.

surge towards $17,000 around 70% higher than the current price of the asset this, has been attributed to a convergence of, positive technical signals on bitcoins,one-month chart suggesting a bull trend, is once again forming a trader going by, Goomba who sports a following of over,11,000 recently posted the below chart.

for those unaware, it depicts bitcoins,one-month performance as per data from, brave new coins liquid index for BTC BLX, which gives a broader look at the market, than data from a single exchange it, shows that with its February candle, Bitcoin has begun to print an array of, good signs the one month on balance, volume obv reading is trending higher.

the stochastic relative strength index,RSI have flipped bullish and is trending, positive after five months of a downtrend and BTC recently exited a multi-month bull flag this confluence, goombah suggested gives the cryptocurrency a price target of 17,000,$200 73.7% higher than the current, market price of $9,900 the chart, indicates the cryptocurrency could trade, at this price sometime in the coming, three or four months Goomba isn't the first analyst to have suggested that, Bitcoin will rise to near its previous.

all-time high extremely quickly for previous reports from news BTC financial, survivalism the trader who called, bitcoins January price action 280 wrote an extensive trading view analysis as to, why he expects for BTC to retest its,$20,000 high by July first, backing this point he cited a number of, analysis factors Bitcoin similarities to, the $4,000 launchpad for the market in early 201 9 the existence of a bullish.

Wyckoff accumulation pattern the strong, buy signals suggested by the Ichimoku, cloud lucid SAR an RSI and much more, also Mike Novogratz CEO of galaxy, digital and a former partner at Goldman, Sachs recently told a mainstream media, outlet that he wouldn't be surprised to see Bitcoin trade near $20,000 by the, time of the halving in May.