Oct 14 #Bitcoin: BTC price is moving in a range $53k-58k. We saw cup and handle pattern breakout at $53k on oct 6 and BTC is trading above this zone from last 8 days.
After $53k breakout BTC formed new trend and indicate that it can jump hard in next 3 month. Last 5 month chart also indicate that whales accumulate BTC from retail traders. In last 7 days btc formed a upward channel and breakout above 58k will push price towards 60k-65k in quick time. $53k is work as strong support and indicate that trader like to buy this zone.
As per past trends and chart formation , BTC can pump hard with high volatility in coming months.
In last 5 month BTC digest all fud including Big China BAN and trading above 5 month high. We can see that BTC bullish for next 3 month as per trend and bulls will not loose control in this quarter.
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