Many Bitcoin analysts are asking for more than $ 70,000; That's why

Bitcoin traders and analysts are confident that the price of the cryptocurrency will reach at least $ 70,000 in the next few sessions. A classic technical indicator is the basis for their positive outlook. The pattern, also called the ascending triangle, is formed when an entity forms two or more ascending pits and forms nearly equal peaks at the merger. The trend lines connecting these points give the impression of a rising triangle, converging as the price increases. Bitcoin bullish structure? Control. Bitcoin ticks almost all the boxes to verify that it forms an ascending triangle. The two-month nature of the cryptocurrency has allowed it to repeatedly test levels around $ 60,000 as resistance. Meanwhile, the price continued to rise while the rising trend line was considered as support. The only missing link is a reverse rupture. "Don't be ashamed if it's over $ 60,000 with confidence," an analyst said on Twitter. Bitcoin bull triangle structure shared by CryptoHornHairs. Source: BTCUSD Bullish triangle bursts on tend to move the asset's bullish target above the widest distance between the upper and lower trend lines. Applying these theoretical definitions to Bitcoin charts will cause it to exceed $ 75,000 in future sessions. $ 70,000 remains a target of psychological resistance. Bitcoin analyst Josh Olszewicz confirmed that a boom move will push the Bitcoin price to $ 75,000. However, the cryptocurrency would begin to consolidate in the $ 70,000-75,000 range. Meanwhile, another analyst – albeit nicknamed – provides essential catalysts that can cause explosive upward movement. Coinbase IPO FOMO Pentoshi, a well-followed Twitter account, stated that the direct listing of Coinbase, a US-based cryptocurrency exchange, on Nasdaq would technically serve as a tailwind for bullish structures. According to him, Bitcoin consolidates in a symmetrical triangle – Read more

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