Bitcoin Preparing Breakout
CNBC’s Ran Neuner Claims Bitcoin’s Price Is Set To “Explode”
While Tommy Lee has said:
"Bitcoin is preparing to break out. It has found support around the $6,000 level, which equals the breakeven for mining costs."
Another expert ShapeShift CEO Erik Voorhees has said:
" Since June, the crypto market has been engaged in a bottoming-out process, "
and most recently Cointelegraph author Helen Partz has said:
"Bitcoin has been trading sideways for around 10 days, following solid growth that took place on Oct. 15." .
As we know prices usually break out or break down after a period of low volatility.
Finally, it's Cointelegraph's Rakesh Upadhyay assessment:
The crypto markets have been consolidating in a small range for the past few weeks. Investors who are currently sitting on the sidelines avoid entering a range bound market, and the volumes have dropped. We expect buying to start after the prices break out of their ranges and a new uptrend begins.
Charts by Tradingview
Keep your eyes peeled as volatility is expected to increase in the next few days.
Disclosure: Author hold no Bitcoin at time of writing
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