on Monday that bitcoin will soon take out the $10,000 resistance level and traders should get on board.
"$BTC is coiling. It will take out 10k soon. All the tragic turmoil in the USA adds to the narrative. Budgets are going one way and it's the opposite of balanced. When 10k goes it will move fast. Get on the train," Novogratz tweeted.In technical analysis, a coil is also known as a symmetrical triangle charting pattern. The pattern tends to be a continuation pattern of a former trend and occurs when a security makes a series of lower highs and higher lows.
Novogratz said he thinks that turmoil spreading throughout the US only adds to the bitcoin narrative, with budget deficits likely to increase as municipalities grapple with depressed business due to the coronavirus pandemic as well as a surge in looting and rioting due to the George Floyd protests.In May, hedge fund manager Paul Tudor Jones
Done. But will it hold this level?
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