Bitcoin News
By Steven Anderson
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What is This All About?
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What is the chance for Bitcoin to go Parabolic?
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Now has been a wonderful day for Bitcoin (BTC) bulls. That’s because the cryptocurrency is in a position to distribute a massive surge throughout the last few hours.
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This recent outpouring has resulted from a few analysts to foresee that the cryptocurrency may be on the point of going parabolic.
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Believe it or not, but Bitcoin was able to blast past resistance roughly 7,500 dollars as bulls crash.
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The surge marks on this day symbolize a tremendous leeway of the energy. This momentum was first developed last week when Bitcoin flattered from lows of 6,400 dollars.
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It looks today that Bitcoin is in the stage of confirming the extremely bullish inverse head and shoulders pattern, which it has been creating.
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The famous and highly acclaimed crypto analyst Big Cheds recently twitted on Twitter about this recent news.
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It is very critical that it sustain to hold above the neckline at least 7,600 dollars for the upcoming few hours.
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Is Bitcoin really going parabolic? Keep in mind that Bitcoin could be on the edge of initiating a parabolic trend.
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Another sought-after cryptocurrency analyst named CryptoBirb gave a response on this matter in a recent tweet.
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There’s only one thing for sure. The bullish inverse head and shoulders pattern is broken if the bulls are not able to continue pushing Bitcoin greater in the near-term.
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