RATE Group | Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year
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Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year

17 May Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year

Posted at 10:58h in Bitcoin News by

The price of the top-ranked cryptocurrency by market capitalization, Bitcoin (BTC), is set to explode in the coming week providing the weekly candle opens above $9,200. This would signal the end of a 46-week descending channel that BTC/USD has been locked in since it nearly tapped $14,000 in the summer of 2019. 

So is this the time to expect a new all-time high from the leading digital asset? 

Daily crypto market performance

Daily crypto market performance. Source: Coin360.com

The weekly view 

BTC USD weekly chart

BTC USD weekly chart. Source: TradingView

At the time of writing, the price of Bitcoin is currently trading over $9,500. It almost seems inevitable that closing above $9,200 is a sure thing. But there are no definite results when it comes to Bitcoin. 

However, with renewed post-halving retail interest it certainly does look likely, especially since Harry Potter author J.K. Rowling recently tweeting to her 14.6 million followers asking for someone to explain Bitcoin to her. This may certainly spark renewed public interest in…

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