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23 September 2019

Bitcoin Eyes Move to $10,950 Hurdle After Price Breakout

Bitcoin Eyes Move to $10,950 Hurdle After Price Breakout


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The falling wedge pattern, comprising of converging trendlines connecting lower highs and lower lows, was created during the pullback from last Friday’s high near $10,956 (bearish lower high of Aug.

The low-volume correction, however, ended with a bullish breakout on Thursday and the cryptocurrency is now looking north, and a re-test of the bearish lower high of $10,956 could be in the offing in the next couple of days.

Hence, there is a strong case for a rise to the bearish lower high of $10,956.

So, a UTC close above that level would activate twin bullish cues: invalidation of bearish lower highs and an inverse head-and-shoulders breakout.

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