What’s Next For Bitcoin Price After It Just Reclaimed $7,300?

With the recent price action, which has meant that Bitcoin has almost fully retraced the crash on March 12th, analysts have become increasingly bullish. Bloomberg wrote last week that Bitcoin’s recent move higher has allowed it to trigger a “positive divergence and a buy signal,” according to the indicator the DVAN Buying and Selling Pressure Gauge.

Bitcoin analyst Filb Filb — who accurately predicted the trajectory of BTC (down to the $) in Q4 2019 and January 2020 — wrote in his Telegram channel that his personal indicator suggests “we are good on trend and volume,” adding that a simple technical analysis of the chart implies a rally to $8,150 in the coming days. Per previous reports from NewsBTC, on-chain analyst Willy Woo found that mining indicators suggest the Bitcoin bottom is in, meaning the cryptocurrency could soon enter back into a bull run.

Timeline of Bitcoin