Bitcoin has seen some bull-favoring price action throughout the past day, rallying up to highs of $9,600 overnight after buyers absorbed the selling pressure that led it down to lows of $9,300.
The cryptocurrency now appears to be well-positioned to see further upside in the days and weeks ahead, as it is currently in the process of breaking above a year-long descending trendline that it has been respecting.
This comes as one analyst is laying out a path forward for the cryptocurrency to rally up to its previously established all-time highs.
The analyst notes that Q2 is a historically bullish quarter for BTC, and it could be mirroring the price action seen in 2015 prior to it entering a multi-year uptrend that ultimately led it to highs of $20,000.
Bitcoin Flashes Signs of Immense Strength as Analysts Eye Further Upside
At the time of writing, Bitcoin is trading up marginally at its current price of $9,560. Read More