Cryptokoin.com - Bitcoin collected over 10% and broke the $ 10,500 key resistance against the US dollar. According to popular analyst Aayush Jindal, BTC traded over $ 11,000 and now it seems that the bulls are targeting a $ 12,000 test.
It took the Bitcoin rally above the $ 10,000 and $ 10,500 resistance levels.
The price traded at its monthly high of $ 11,422, and is currently consolidating earnings.
On the hourly chart of the BTC / USD pair (data flow from Kraken) there is a large bullish trend line formed with a support around $ 10,800.
According to the analyst, the pair is expected to rise to $ 11,600 and $ 12,000 levels in the near term.
Bitcoin price climbed to $ 11,500!
Yesterday, we saw a strong increase in Bitcoin above the $ 10,000 resistance level against the US dollar. BTC has raised its rally above the $ 10,200 and $ 10,500 resistance levels to overcome a few critical obstacles. There was a break above the $ 11,000 level and the price went way above the 100 hourly simple moving average.
Bitcoin price rises sharply - Source: TradingView.com
A one-month high is forming at around $ 11,422, and is currently reinforcing BTC earnings. Later, BTC fell below the $ 11,200 level. However, the 50% Fib retracement level of the last rally served as a strong support near $ 10,850. There is also a large bullish trend line formed with support near $ 10,800 on the hourly chart of the BTC / USD pair.
Here are the critical levels and pivot points that Bitcoin can test
The trend line is close to the 61.8% Fib retracement level of the last rally and has risen from $ 10,275 to $ 11,422. On the upside, the $ 11,500 level is a major hurdle for bulls, according to the analyst. A successful break above the $ 11,400 and $ 11,500 levels could open the doors for a sharp increase in the near term, according to the analyst. The next target for bulls could be $ 12,000 in the coming sessions, according to the analyst.
Olumsuz bir duzeltme varsa analiste gore, Bitcoin 10.900 dolar ve 10.800 dolar seviyelerine yak?n teklifler bulabilir. Ana destek analiste gore, simdi trend cizgisi ve 10.500 dolar civar?nda. Diger kay?plar analiste gore, fiyat? 10.300 dolarl?k destek bolgesine dogru yonlendirebilir. Bir sonraki buyuk destek analiste gore, 9.800 dolar seviyesine ve 100 saatlik basit hareketli ortalamaya yak?n.
Current view of Bitcoin price with technical indicators
Hourly MACD: For the BTC / USD pair, MACD is currently losing power in the bullish zone.
Hourly RSI (Relative Strength Index): The RSI for BTC / USD is currently correcting below the 70 level.
Major Support Levels: $ 10,900, then $ 10,800.
Major Resistance Levels: $ 11,400, $ 11,500 and $ 12,000.
