Bitcoin prices have been surging for weeks and showing some impressive numbers which have not only raised talks but also pulled worldwide view and reminded traders within the crypt space to dust their investment boots. With some highs in the past weeks that can only be matched by its all-time highest spikes. BTC has been penetrating surmounted resistance and though a few days ago it began to a temporary deep, we know that this flight won’t land yet.
Experts opinions say that this dip is only a short-term part of a long-term script, that is to say, it will be up retesting some top resistance in a short while and continue on its upthrust. Some crypto analysts even say they expect a resistance rematch of the $47,000 resistance wall in no time with victory in sight. Can we bank on this opinion? I guess we’ll have to watch out to see but with no doubt in mind, BTC since breaking the $45,000 resistance, seems more than capable of accomplishing the task ahead in its bullish run.
For those who invested and are currently worried about the future, it’s expected, but you must also trust in the figures too and the Bitcoin hash ribbon tells a story of hope. The BTC hash ribbons have always been a trusted indicator of the strength of buy pressure in the market. On the last indication of strong buy pressure, the digital assets experienced a massive bull run from the end of 2020 up into the start of 2021 which let it up to a record high of $64,000 which was just outstanding. Now the hash ribbons are pointing towards a strong buy.
The Bitcoin trends show that the market is currently under a firm degree of pressure to buy and only a few speculators who have shown market fear are disposing off their crypto assets but will obviously end up rushing back when the rebound begins. Analysts are currently ticking the bullish checklists as most of the run-up criteria have been met. We are however anticipating one more sign to sit back and fully relax which would be a mid-September trend low. When we spot a significant low into the next month then the spike set-up would be fully set and we can slowly start to count out profit based on calculated analysis.
The little down times we have experienced with lows and retracements are nothing new as we have seen these patterns before hence, the source of our conviction. With the dept of the market fall early this year, it would have been easy to conclude a bearish progression that might be irrecoverable, with touchdowns as low as $30,000 but now see where the market is. Many pulled out due to fear and closed at losses but those with proper information stayed put so, if you’re planning on pulling out now, make sure it’s a wise investment decision you won’t feel bad about tomorrow. If you are a crypto lover these lows are beautiful entry positions to join in the market surf and ride to the top. Be reassured, be quick and be bold and if you’ve already invested then be ready, the surge is inbound.