Bitcoin might gain further in value before hitting the overbought territory. A study dubbed “Staying Ahead of the Curve” released by the cryptocurrency exchange Kraken shows that the gains might come before the current rally ends.
The report’s conclusions are derived from Bitcoin’s historical data indicating that the asset might rapidly be approaching a resistance level. However, it remains several tens of thousands of dollars away from the overbought zone.
Kraken adds in case Bitcoin surpasses the $75,000 mark in the next few months, historical price action shows that the asset would near the top of the cycle.
