Bitcoin Validates “Coiled Power” as Analysts Set Their Sights on $8,000

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Bitcoin decisively broke through the resistance it previously faced at $7,200 It now appears that BTC broke out of a bullish pennant that could help push it higher in the days and weeks ahead This pennant now has serious “coiled power” as bulls were able to spark a movement within a key timeframe. After recapturing its position within the lower-$7,000 region, Bitcoin bulls have been able to post a massive breakout rally that sent the crypto surging to the mid-$7,000 region. The benchmark cryptocurrency has now broken out of key level that previously proved to be incredibly important during its last bout of trading within its current price region. There is also one emerging technical pattern that could help further boost BTC in the days ahead, as it now appears that bulls were able to confirm its “coiled power.” Bitcoin Sees Explosive Rally as Analysts Eye Move to $8,000 At…

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