BITCOIN JUST BROKE A DESCENDING TRENDLINE FROM 2017; IS THE BULL MARKET HERE?

BITCOIN JUST BROKE A DESCENDING TRENDLINE FROM 2017; IS THE BULL MARKET HERE?

Gate Trade News Tuesday, July 28, 2020 20 0

It has been a wild 24-hours for Bitcoin and the aggregated cryptocurrency market

 

Following a long-held bout of consolidation, the benchmark digital asset is now breaking out and appears to be aiming for a test of its yearly high at $10,500

 

BTC’s latest break above $10,000 is different from those seen previously and has so far proven to be far more sustainable

 

Analysts are now noting that this movement has also allowed Bitcoin to shatter a multi-year descending resistance line formed since 2017

 

This means major upside could be brewing in the near future

 

Bitcoin was able to incur some tremendous momentum yesterday that allowed its price to surge as high as $10,300.