Over the past few days and weeks, Bitcoin (BTC) has caught up on lateral trading as it has not been able to gain a significant and sustained upward momentum despite the significant support it has raised to 8 $ 700.
However, the open interest of Bitcoin could be a major force for cryptocurrencies, and one analyst says it could indicate that someone will “light a match for rocket fuel” that could increase the price of BTC in a near future.
Bitcoin generates $ 8,700 while bulls fail Spark Upward Momentum
At the time of writing, bitcoin is trading at 1% at the current price of $ 8,710, which is slightly lower than the current $ 8,800.
Although BTC has recently seen the prices, it is important to note that $ 8,700 has always proven to be an excellent cryptocurrency support area and is unlikely to fall below that level. level if they do not gain speed. .
As for Bitcoin’s short-term resistance, it has been repeatedly rejected in the region’s lowest $ 9,000 in recent weeks, indicating that sellers are firmly controlling this region of prices for the time being.
Is the BTC an open sign of interest that Bull Run is a bypass?
Despite the recent, not-so-subtle, pressure of Bitcoin, it is important to note that the BTC’s open interest currently reflects certain values.
Mr. Anderson, a popular cryptocurrency analyst on Twitter, spoke of a recent tweet, noting that a big move was inevitable for cryptocurrencies.