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Bitcoin Defies Gravity: Failed Head And Shoulders Could Trigger Massive Rally

Bitcoin price jumped above the $9,550 resistance to invalidate a key head and shoulders pattern against the US Dollar. It seems like BTC is primed for a massive rally above $10,000.
  • Bitcoin bears failed to push the price below the main $9,150 support against the US Dollar.

  • The bulls gained control, resulting in a fresh increase above $9,500.

  • There is a connecting bullish trend line forming with support near $9,280 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • On the upside, the $9,500 and $9,580 levels hold the key for the next major rally.
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