Here’s Why Bitcoin’s Break Above $8,000 Might Not Be as Bullish as Many Believe

Bitcoin (BTC) was able to incur a massive rally today that led the cryptocurrency to surge past its previous resistance at $8,000. In spite of the overt bullishness of its recent price action, it does appear to be struggling to gain a solid footing above this level.
Analysts are now noting that they are cautious about getting too bullish on Bitcoin at this exact moment, as it may be at a key pivoting point that will lead it to incur another bear-favoring trend reversal.
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