Is Bitcoin (BTC) Ready to Rally and Click Another Yearly High?
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- An analyst posted that Bitcoin’s uptick may not be over for the year, predicting another uptrend.
- BTC attempted to cross $38,000 but was rejected at $37,917.
- If buying pressure increases as it has in the last 24 hours, BTC may hit $40,000.
Crypto analyst Michaël van de Poppe, in a post shared on X, noted that Bitcoin (BTC) could soon hit another high. From the chart he shared, the analyst revealed that BTC may climb above $38,126 anytime from now on.
With a Year-To-Date (YTD) performance spanning a 125.57% increase, BTC jumped another 5.21% in the last 24 hours. However, van de Poppe’s post also showed that the uptick could result in a decline in the $36,000 direction.
At the time of writing, BTC was changing hands at $37,501. The hike in BTC’s value could be linked to the opportunity buyers may have spotted on the BTC/USD chart.
Up Only for Bitcoin?
A look at the Relative Strength Index (RSI) showed that the value dropp…
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