Bitcoin Price Spikes 10 Percent, Experiencing Relief Rally

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  • Bitcoin bulls are fighting back after days of continuous bleeding with the BTC price surging by almost 10 percent

Bitcoin Price Spikes 10 Percent, Experiencing Relief Rally

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The Bitcoin price is up by almost 10 percent since hitting $6,560 mark earlier today. At the time of writing, the biggest cryptocurrency by market cap is changing hands at $7,199. 

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That said, the bulls are not out of the woods just yet. In his recent tweet, cryptocurrency trader "NebraskanGooner" says that he plans to stack more sats when Bitcoin drops to the $6k level (or even lower). 

"The Wolf of All Streets" says that Bitcoin has formed "a beautiful reversal candle," but he's not sure whether Bitcoin has already reached its local bottom. 

As reported by U.Today, trading vet Peter Brandt, who predicted that Bitcoin could reach a bottom in February 2020, suggested that the top coin could be on track to complete the bearish "head-and-shoulders" pattern

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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