RATE Group | Bitcoin’s Uptrend May Result in an Explosive Parabolic Rally Because of This Simple Fact…
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Bitcoin’s Uptrend May Result in an Explosive Parabolic Rally Because of This Simple Fact…

07 Feb Bitcoin’s Uptrend May Result in an Explosive Parabolic Rally Because of This Simple Fact…

Posted at 02:50h in Bitcoin News by

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Bitcoin’s firm 2020 uptrend is likely far from over. After incurring some intense selling pressure earlier this week, bulls fought back and propelled the cryptocurrency all the up to highs of $9,900, which is just above where it is currently trading at.

This momentum has made it look increasingly likely that Bitcoin will soon make an attempt to break above the resistance that exists at $10,000, with a break above this level potentially catalyzing a massive parabolic movement.

Furthermore, there are also a few bourgeoning technical developments that also suggest that the crypto will soon garner significantly further momentum, including a newly formed golden cross.

Bitcoin Races to $10,000 as Analysts Watch for Rally to Turn Parabolic

At the time of writing, Bitcoin is trading up just over 1% at its current price of $9,730, which marks a slight decline from daily highs of roughly $9,900 that were set earlier this morning.

This bullishness has come about as a direct result…

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