Analysts Expect Bitcoin Price Breakout as BTC Holds in $9,000 Range

nikhita singhal hZq0WeWq1Ic unsplash 1 768x512

Yesterday, Bitcoin (BTC) plunged by $300 in literal minutes, falling to as low as $9,200 after consolidating in and around $9,500. There were many saying that this flash crash-esque move validated their bearish analyses, which implied that BTC would return to the $8,000s in the coming days. However, true to the volatile nature of the cryptocurrency market, Bitcoin has returned to $9,400 as of the time of writing this. This bullish consolidation has convinced analysts that a bullish breakout is impending. Satoshi Flipper, a popular altcoin-centric trader, noted that Bitcoin’s four-hour chart is printing a bullish pennant pattern, implying a strong move in the upward direction. A breakout, should it take place, would likely bring Bitcoin’s price back above $10,000 and potentially to new swing highs past $10,500. Bullish pennant forming on the 4 hr – i think we see a breakout soon 👏👏 — Satoshi Flipper (@SatoshiFlipper) October…

Read the original article here