Bitcoin (BTC) Ready for an Upside
If you look at the Bitcoin (BTC) price recently, it appears the cryptocurrency king is about to experience another surge to the upside. According to a trending analyst, Credible Cryptocurrency, the latest pullback flushed out overleveraged traders. Open interest (OI) is back at healthy levels as spot market bulls continue to accumulate BTC, tracking the total number of outstanding derivatives contracts that have not been closed for an asset. The analyst likewise believes that the bearish price action of altcoins supports his positive trend stance on cryptocurrency, suggesting market participants have the dry powder to move financial resources to BTC. As of the moment, Bitcoin (BTC) is currently worth $36,519, well over Credible Cryptocurrencies downside target at $35,766, indicating that the Bitcoin is very likely experience a recovery very soon.
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Bitcoin (BTC) Facing Another Upsurge?
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