RATE Group | Bitcoin Price Poised to Jump 40% Towards $10,000; Here’s Why
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Bitcoin Price Poised to Jump 40% Towards $10,000; Here’s Why

31 Dec Bitcoin Price Poised to Jump 40% Towards $10,000; Here’s Why

Posted at 11:08h in Bitcoin News by

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While Bitcoin saw a strong rejection at $7,500, with the price of the leading cryptocurrency rapidly plunging to $7,200, leading some to suggest that an extended bearish reversal was possible, analysts remain bullish on BTC.

A prominent cryptocurrency trader recently remarked that his analysis of Bitcoin’s chart over the past few months shows that a key bullish divergence is forming, which implies that the price of the asset could surge by 40% in the coming weeks.

Related Reading: Bitcoin Price to Soon Go Parabolic? Analysts Say It’s Possible

Bitcoin Ready to Hit $10,000?

Full-time trader Cold Blooded Shiller recently posted the below analysis of Bitcoin’s Renko candle chart, which shows the price action over the past three years.

While there is little on the chart, the trader drew attention to two previous bouts of price action in BTC’s history, during which the price rallied by 32% and 40%, respectively, after a bullish divergence was formed between his indicator and the…

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