Technical Indicators Hint Bitcoin May Soon Run Higher, Potential Factors & Trends

[bitcoincash]

Bitcoin (BTC) and the aggregated cryptocurrency markets have been able to find some stability after their upwards surge yesterday, which may be a bullish sign that points to the possibility that further gains are imminent in the near-future.

Additionally, this upwards move has led multiple technical indicators to begin flashing bullish signs, and any bullish movement in the near-future may be bolstered by increasing institutional adoption through platforms like Bakkt – which will be launching testing for its Bitcoin futures product next month.
Bitcoin Finds Stability Above $8,000 After Yesterday’s Surge
At the time of writing, Bitcoin is trading up marginally at its current price of $8,170, up from 24-hour lows of $8,000 that were set late yesterday.

In the past couple of days, BTC was able to once again break back into the $8,000 region after facing increased selling pressure that sent it reeling back into the mid-to-upper $7,000 region.

The cryptocurrency’s latest upwards surge appears to be bull’s latest attempt to maintain the upwards momentum it has incurred over the past couple of months and may signal that further gains are imminent in the near-future.

Recent technical analysis from Fundstrat Global Advisors may confirm this postulation, as Rob Sluymer – a technical strategist at Fundstrat – explained in a recent interview with Bloomberg that Bitcoin’s relative-strength-index momentum has begun to turn bullish, which may lead BTC towards $9,000 before it faces strong resistance.

It is likely that a rising tide will lift all ships, so a Bitcoin price surge that takes it up towards $9,000 will probably lead most major altcoins to likewise surge higher.

What Could Help Fuel a BTC Surge?
One potential factor that could help lead Bitcoin significantly higher in the near future is the imminent launch of the ICE-backed crypto trading platform Bakkt, which announced in a recent Medium post that they will be initiating user testing for their BTC futures on July 22.

Despite this, some analysts don’t believe that the launch of this institutional-focused platform will help the markets, as its launch may already be priced in.

[Adaora]

Waooo. This is huge. We have seen bitcoin @ 9k$ might cross 10k soon. Let's also get our fixes on some potential alts. I've got eyes on Bnb, veil and Monero. Thinking of bagging some in their next dip. What's your take?

[Baesboo]

The higher bitcoin runs, the lower altcoins go.... This is very sad but I know its just a matter of time before alts also pick up as well. Thats why I am buying up my favourite alts (veil, Pivx, Dash, LTC) as much as I can now before the bull run starts.