3 Reasons Why Bulls Think Bitcoin’s Rally to $8,800 Isn’t Done

Bitcoin (BTC) bulls don’t seem to be letting up the pressure. Over the past few hours, the price of the leading cryptocurrency has rocketed higher again, just tapping $8,800 minutes ago as of the time of writing this article.With this latest push higher, Bitcoin has rallied by 30% from the local lows around $6,800. And over the past 24 hours, BTC has rallied by 8%.Related Reading: This Late Night Host Just Exposed Millions to Bitcoin, AgainBut according to a number of indicators, the rally isn’t done yet.Bitcoin Price Explodes Higher, Analysts Expect Further GainsFirstly, Mohit Sorout, a partner at Bitazu Capital, noted that with BTC’s latest spike higher, it has broken above two key downtrend resistances that have constrained price action for the past seven months. Not to mention, the one-day Relative Strength Index (RSI) and On-Balance Volume (OBV) indicators have broken past similar downtrends, suggesting more upside is imminent.

This post was originally published on www.newsbtc.com