RATE Group | Analyst Calls Sunday’s Jump, Expects Bitcoin to Hit $20,000 by March; Here’s Why
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Analyst Calls Sunday’s Jump, Expects Bitcoin to Hit $20,000 by March; Here’s Why

23 Dec Analyst Calls Sunday’s Jump, Expects Bitcoin to Hit $20,000 by March; Here’s Why

Posted at 08:16h in Bitcoin News by

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Some four days ago, a Bitcoin analyst going by “Velvet” posted the chart below. In it is depicted BTC’s price action for the past 18 months, a Fibonacci Retracement of the $3,150 to $13,800 move, two trendlines, a moving average, and a vertical date marker for December the 22nd.

Velvet presented the chart with “no comment,” leaving many bewildered as to what he was implying by posting this Bitcoin chart.

Related Reading: XRP is Down 95% from Its 2018 Peak; What’s Next for the Embattled Crypto?

Though on Sunday and today, we got our answer: yesterday morning, December 22nd, BTC finally broke out, surging higher from the $7,100 base it was building for days on end. As of the time of writing this, the cryptocurrency has topped $7,600, up some 7% in the past 24 hours.

The updated version of this chart shows Bitcoin breaking cleaning through…

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