RATE Group | If $7,700 Holds, Bitcoin Price Could Soon Surge by 20%
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If $7,700 Holds, Bitcoin Price Could Soon Surge by 20%

13 Oct If $7,700 Holds, Bitcoin Price Could Soon Surge by 20%

Posted at 01:23h in Bitcoin News by

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On Saturday evening, the Bitcoin price started to show hints of weakness after a short bout of consolidation. As of the time of writing this, the leading cryptocurrency has dipped to $8,300 — a level which analyst Josh Rager has indicated as key for BTC to hold in order to maintain a formation of consecutively higher lows.

Although there are some expecting for Bitcoin to soon break under $8,300, potentially to establish new multi-month lows under $7,000, an argument has been posed that as long as $7,700 holds, $10,000 is within BTC’s grasp.

Related Reading: Buterin in ‘Beast Mode’ as Work on Ethereum 2.0 Continues

Bitcoin Price Ready to Retake $10,000?

Josh Olszewicz, Brave New Coin analyst, recently took to Twitter to lay out Bitcoin’s current chart structure, posing the question if BTC will hit $5,000 or $10,000 to his followers. He observed a confluence of both bullish and bearish factors, seemingly hinting that the market is undecided about where it should head next.

Due…

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