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Thursday

26 November 2020

Latest Bitcoin Correction Does Little to Offset Bullish Bias; Is $20K Next?

Latest Bitcoin Correction Does Little to Offset Bullish Bias; Is $20K Next?


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As a result, its price against the dollar has rebounded on multiple breakdown attempts, creating a structure that appears like a Bull Pennant.

In retrospect, a Bull Pennant is a bullish continuation signal that forms during an asset’s uptrend.

Bitcoin fits the criteria of the said Bull Pennant Structure.

That puts Bitcoin en route to hitting $20,000 (or levels $100-150 shy of it).

As of now, Bitcoin is just $2,000 away from hitting its record peak.

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