Bitcoin (BTC/USD) is showing massive bullish momentum. Price recently jumped from $8k to above $11k before finally falling back more than $2k.
This video analysis whether price can make a deeper retracement before continuing with the uptrend. It also analyses what traders should monitor so that they can measure whether a breakout or retracement is more likely.
The virtual currency is seeing a strong push higher most likely because traders and investors are anticipating that next month bitcoing futures will be available via the Chicago Mercantile Exchange. This in turn could give Bitcoin more legitimacy and also welcome demand from bigger investors.