Bitcoin Price Analysis: 5 Signs of Bullish Divergences Push BTC
Adekunle Joshua
Bitcoin has been consolidating in the $29,000 zone for weeks, but there are signs that it may be ready to break out.
On-chain data shows that the Bitcoin network is doing well, despite the price action.
A golden cross pattern has formed on the BTC chart, which is a bullish signal.
The CPI release next Thursday could trigger a volatility event for Bitcoin.
Bitcoin’s long-term holder supply has reached an all-time high, which shows that investors are still bullish on the asset.
BTC is having trouble getting up from its current slump. However, on-chain data shows that amid the overextended consolidation, the Bitcoin network is doing exceptionally well.
BTC’s consolidation phase over the last few weeks has been the object of trader frustration and confusion.