Bulls are looking to take control of Bitcoin (BTC) after a week of boring price action. In the past 48 hours, BTC has tried to convincingly break past $8,000 and close a key four-hour or 12-hour candle above $8,200. While this auspicious event from a technical analysis standpoint hasn’t come to fruition just yet, some cheery analysts are coming to the conclusion that bulls will only continue to pressure BTC higher in the days to come.
Financial Survivalism claimed that having found clear support at $7,600, Bitcoin may be poised to head higher. He claims that the asset’s four-hour chart is looking like an Accumulation pattern laid out by technical analysis guru and legend Richard Wyckoff.