Bitcoin is struggling below $45,000 but there are signs it could break out

Bitcoin is struggling below $45,000 but there are signs it could break out

Bloomberg: Bitcoin’s stealth rally over the past two weeks has brought it close to a key level that analysts at Miller Tabak + Co. say it must break above to continue its upward path.

Having gained 15% since March 11, the largest cryptocurrency by market value is close to reaching $45,000. If Bitcoin “can break above that level next week in any meaningful way, it should gain a lot of upside momentum,” said Matt Maley, chief market strategist at Miller Tabak + Co.

Maley’s watching a so-called “ascending triangle” pattern and says that he’d like to see the breach above $45,000 happen during the week because weekend trading can be thin.