Assessing the odds of Bitcoin [BTC] touching $32,000 in the near term
posted on CryptoQuant revealed that the rally might continue. Ankaramurka, an author and analyst at CryptoQuant, mentioned that a look at Bitcoin using the Elliott Waves analysis technique suggested that Bitcoin still has a great potential to rise in price.
Not only that, but the price uptick might continue until BTC touches the resistance level in the price range of $29,200 – $32,300, which seems ambitious. Though the figure might seem high to many, interestingly, quite a few on-chain metrics supported the possibility of the uptick.’s MVRV Ratio was considerably up, which was a bullish signal. Negative sentiments around BTC also seemed to have declined. BTC’s daily active addresses have increased lately.
Not only that, a crypto analyst by the name of Stockmoney Lizards on Twitter, pointed out similarities between BTC’s current and 2019 price action.
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