Since the $3,700 bottom seen in the middle of March, Bitcoin has rocketed higher, rallying as high as $7,470 in an impressive fashion. While impressive, the cryptocurrency is not yet in a full-blown bull run, with there existing a confluence of resistance overhead the BTC price, analysts are gaining confidence a bull run is near.
Glassnode, a leading cryptocurrency data firm, suggested that per one of its proprietary indicators that accurately timed Bitcoin’s market tops, a full-blown “bullish trend reversal” may soon be confirmed.