{"id":60546,"date":"2020-02-19T08:33:16","date_gmt":"2020-02-19T06:33:16","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=60546"},"modified":"2020-02-19T08:33:16","modified_gmt":"2020-02-19T06:33:16","slug":"bitcoin-prepares-burst-past-10000-bulls-keep-up","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-prepares-burst-past-10000-bulls-keep-up\/","title":{"rendered":"Bitcoin Bursts Past $10,000 (Again): Will Bulls Keep Up?"},"content":{"rendered":"

After reaching as low as $9,500 on Monday, Bitcoin<\/a> started to trend higher. As of the time of this article’s writing on Tuesday, the cryptocurrency has reached as high as $10,300 \u2014 8% higher than the local bottom but a few percent below the local top at $10,500.<\/p>\n

The strong recovery from the key $9,500 level is bullish, for it confirms the uptrend structure of Bitcoin remains intact. Indeed, a number of analysts have said that the price of BTC’s recovery is a likely precursor to yet another thrust higher, a thrust that will bring this market to new multi-month highs.<\/p>\n

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Bitcoin’s Outlook Turns Positive Again Amid Recovery<\/strong><\/h2>\n

The recent move higher has convinced many that Bitcoin is ready to move even higher.<\/p>\n

Gerald Walker, who has a moniker \u201cThe Wolf of All Streets,\u201d\u00a0remarked<\/a>\u00a0that Bitcoin remains in an ascending channel and is forming a wave pattern that will take it past $11,000 in the coming days.<\/p>\n

The channel and wave he was referring to can be seen in the tweet below, which shows that Bitcoin bouncing off a crucial horizontal and diagonal support around a\u00a0Fibonacci Retracement<\/a>\u00a0is priming the asset for a thrust to $11,000.<\/p>\n

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#bitcoin<\/a> update i cancelled most of my shorts i think we will see higher prices as long as 9060 and the uptrend channel remains intact pic.twitter.com\/aGNQ8WLk7h<\/a><\/p>\n

— TheWolfOfAllStreets (@GerardWalker5) February 18, 2020<\/a><\/p><\/blockquote>\n