Bitcoin Rallies — Is a $95K Breakout Coming on Thanksgiving?

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Bitcoin remained below key support levels as traders hoped the rally could achieve the highest-ever Thanksgiving Day close for BTC price.

Bitcoin rallied 13% from multimonth lows at $80,000, reclaiming the $90,000 mark on Wednesday. This move came as a surprise as BTC staged a pre-holiday rally, increasing hopes of a continued upward move going into Thanksgiving weekend.

Bitcoin stages a pre-Thanksgiving rally and seeks to defy its historical average return of -0.8% during the holiday. 

Bitcoin must reclaim $100,000-$105,000 to avoid a potential breakdown below $80,000. 

BTC/USD pair trading at $91,400 on Thursday, after it had climbed more than 5% on Wednesday.

“Look, we just had a bullish Wednesday too,” said Capriole Investments founder Charles Edwards, referring to a previous analysis showing the Wednesday before Thanksgiving is always bullish, followed by a bearish Thursday. 


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