RATE Group | Analyst: Bitcoin Dips Are Bought at a Remarkable Rate, Making $10k Imminent
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Analyst: Bitcoin Dips Are Bought at a Remarkable Rate, Making $10k Imminent

28 Jan Analyst: Bitcoin Dips Are Bought at a Remarkable Rate, Making $10k Imminent

Posted at 13:07h in Bitcoin News by

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Every bitcoin dip is being bought at a remarkable rate says top trader Filb Filb. The strong momentum of BTC above a key resistance level at $9,000 positions BTC for a potential upsurge to $10,000.

Bitcoin is recovering at a faster pace than expected

In October 2019, Filb Filb said in an blog post that the bitcoin price is anticipated to achieve $10,000 by March 2020.

The model the trader used to forecast the medium-term price trend of the bitcoin price was based on previous fractals.

bitcoin price

12-month bitcoin price forecast by Filb Filb published in October 2019 (Source: Filb Filb)

According to the trader, virtually every minor correction following the recent large upsurge is being bought up at a rapid rate. That indicates that there is significant buying demand at a relatively high range in between $8,800 to $9,000.

It also shows that despite strong selling pressure in the market, the upward momentum of bitcoin is squeezing out short contracts across major margin trading platforms.

“Forecast…

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