Technical chart patterns suggest that Bitcoin could see more upside momentum in the following weeks, mirroring previous bull cycles.
Bitcoin (BTC) rose above the $70,000 mark for the first time in six weeks. Here’s why you should have bought the Bitcoin dip below $70,000.
Bitcoin rose to a six-week high of $71,401 on May 20, a price level not seen since April 9, according to TradingView.
As Bitcoin recovered above the $70,000 psychological mark, the funding rate has also started rising. Bitcoin’s funding rate rose to 0.0187%, the highest level since April 9, according to Coinglass, suggesting that most traders are long BTC.
