Bitcoin

<ul class="news-points"> 
 <li>Bitcoin reserves on exchanges are dropping while prices gradually move higher.</li> 
 <li>The shorts also appear to have capitulated, said analyst @martypartymusic.</li> 
 <li>There is a possibility of Bitcoin “going to the moon” from here, said the analyst.</li> 
</ul> 
The price of Bitcoin appears to be nearing a bullish breakout, according to a prominent crypto analyst on social media platform X (formerly known as Twitter). Notably, the leading digital asset has been unable to reclaim its $70,000 price level since making a <a href="https://coinedition.com/bitcoin-breaks-73k-amid-swelling-inflows-across-newly-launched-etfs/">new all-time high of $73,000</a> earlier in March.&nbsp; 
In the X post, analyst @martypartymusic<a href="https://twitter.com/martypartymusic/status/1772044519242142130" target="_blank" rel="nofollow"> pointed out</a> that the Bitcoin “shorts appear to have capitulated” and there is a possibility of prices “going to the moon.”&nbsp; 
The data shared by the analyst suggests that traders who had been betting on the price of Bitcoin to decrease (shorting it) have closed their positions en masse. There is a possibility of a short-term increase in the price of Bitcoin as these shorts cover their positions by buying back Bitcoin, adding to the buying pressure in the market. 
Another<a href="https://twitter.com/martypartymusic/status/1772055540031697393" target="_blank" rel="nofollow"> chart</a> posted by the analyst showed the correlation between Bitcoin reserves on exchanges and the Bitc…
The post <a href="https://coinedition.com/bitcoin-is-due-to-an-uptick-in-price-action-indicators-show-analyst/">Bitcoin Is Due to an Uptick in Price Action, Indicators Show: Analyst</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Is Due to an Uptick in Price Action, Indicators Show: Analyst

Coin Edition

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