Bitcoin Could be Coiling Up for a Move Past $11,000 Due to These Events

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Bitcoin’s price has been seeing an incredibly tight bout of consolidation throughout the past 24-hours, forming a $50 trading range as it stays within the mid-$10,500 region This has created an air of uncertainty regarding where it may trend next, as it could easily see a swift move in either direction That being said, the cryptocurrency’s ability to find stability in the face of a barrage of multiple bearish news developments is positive One trader is now noting that he believes that Bitcoin’s current price action is its way of coiling up before it makes a big move past $11,000 Bitcoin and the entire crypto market have been caught within a bout of sideways trading throughout the past several days and weeks, with both sides being unable to garner any clear momentum. This has created one of the tightest consolidation channels BTC has seen in months, which could indicate that…

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