Statistics Signal That Bitcoin (BTC) is Likely to Surge Towards 5,500 in Near Future6.2

Although Bitcoin has been unable to find any noteworthy buying pressure in the low-$4,000 region ever since it advanced to this price level, when looking at a larger time frame it becomes apparent that BTC is not currently bearish, despite its persisting bout of sideways trading.

One analyst is quick to point out that Bitcoin is currently caught in an ascending triangle pattern, which result in upwards breaks the vast majority of the time with relatively high average price movements.

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