Twitter’s Bitcoin Sentiment Suggests a Price Breakout is Imminent: Here’s Why

As NewsBTC reports, “Some of the top altcoins by market capitalization, such as Ethereum, have been posting significant gains lately. Meanwhile, Bitcoin remains stagnant within a narrow trading range.

“The flagship cryptocurrency is consolidating between $8,800 and $10,080 since late April without giving any clear signs of where it is headed next.

“One of the most prominent analysts in the industry maintains that Bitcoin’s inability to move past the $10,000 resistance level adds credence to a sudden bearish impulse that could see it plummet to $6,300.

“Nonetheless, others believe that the pioneer cryptocurrency shows a textbook technical pattern, dubbed falling wedge, that may see it rise towards $11,500.

“Regardless of the ambiguous outlook, different on-chain metrics suggest that a significant price movement is underway.

“Santiment, a behavior analytics platform, noted in a tweet that Bitcoin could benefit the most from the next major inflow of capital in the market. The firm argues that its ‘Twitter Sentiment Volume Consumed’ index shows that BTC is hovering at a neutral territory, which can be interpreted as a positive sign…”

Read the full story on NewsBTC.