RATE Group | Crypto Markets on Verge of Parabolic Breakout as Bitcoin Sets Fresh 2020 High
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Crypto Markets on Verge of Parabolic Breakout as Bitcoin Sets Fresh 2020 High

29 Jan Crypto Markets on Verge of Parabolic Breakout as Bitcoin Sets Fresh 2020 High

Posted at 03:27h in Bitcoin News by

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Bitcoin (BTC) and the altcoin markets incurred some notable momentum today, which comes as Bitcoin’s bulls extend the rally that first kicked off yesterday when the crypto made its way up to highs of $9,150.

This momentum has not been isolated to Bitcoin, however, as many major cryptos have been able to similarly incur notable momentum today.

It does appear that the markets are on the cusp of seeing significantly further upside, as Bitcoin just broke above the upper boundary of a bull pennant that could generate an upwards tailwind that leads altcoins to kick off a fresh parabolic cycle.

Bitcoin Begins Rallying, Leading the Crypto Market to Follow Suit

At the time of writing, Bitcoin is trading up 5% at its current price of $9,250, which is past price level at which it faced a swift rejection at yesterday evening, and marks a fresh 2020 high.

Buyer’s ability to push BTC past this level is certainly a bullish sign, as it suggests that sellers did not have enough support at this level…

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