RATE Group | Bitcoin is preparing for breakout, ETH and XRP are trending sideways
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Bitcoin is preparing for breakout, ETH and XRP are trending sideways

20 May Bitcoin is preparing for breakout, ETH and XRP are trending sideways

Posted at 08:21h in Bitcoin News by

Bitcoin

Source: Jaruwan Jaiyangyuen – Shutterstock

  • Bitcoin continues to move in the narrow price range between $9,500 and $10,000 and could prepare for a breakout, according to analysts.
  • The Altcoin market around ETH and XRP is following Bitcoin and is also moving sideway.

Bitcoin has been “trapped” in the $9,500 to $10,000 price range for several days, so BTC has not yet managed to break through the important $10,000 mark. In the last 24 hours, the Bitcoin price has risen 1.69% to a price of $9,787.60. The market capitalization has increased from $176 billion to $179 billion.

Bitcoin trader and analyst Josh Rager describes that Bitcoin is at an important point and the bulls must now take the reins. In a chart shared with his community, he describes that Bitcoin must break through the resistance along the $10,000 USD line in order for BTC to continue its bullish performance of the past days and weeks.

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