- Bitcoin has formed a very nice weekly candle according to Lark Davis.
- As a result, BTC has smashed its previous resistance level.
- With the new candle form, people believe that the BTC price will go above $48K ATH soon.
Crypto analyst Lark Davis has shared a tweet about Bitcoin (BTC). Citing from the tweet, the flagship crypto bitcoin has formed an impressive and good-looking weekly candle. Doing so, BTC has momentarily smashed its previous resistance position.
— Lark Davis (@TheCryptoLark) August 8, 2021
However, the formation and nice position of the candlestick spits some synergy that Bitcoin is again preparing for a deep bullish scene ahead.
In fact, this shows that Bitcoin is very eager to recover from its recent price downturns. With this improvement, BTC could do better even compared to what we are seeing now.
In addition, when the crypto Twitter community saw the Davis Bitcoin tweet, they became so enthusiastic. In reply, many said that they believe that Bitcoin price would soon record a new all-time high (ATH) of $48K.
Even more, others also questioned Davis whether the new candle formed would further push Bitcoin price in a long-time without rallying. Regarding digital asset prices, Bitcoin price is presently trading at $43,625.02, with a 24-hour trading volume of $39,252,460,966, according to Coingecko.
Furthermore, it is worth saying that if Bitcoin continues to form more eye-catching candles, this can drive more investors towards it as well as increasing its user-based.