Forex and Crypto News

Bitcoin above $11000, can bulls continue rally?

12:51 09 October /2020

Today, the price of Bitcoin has risen above $11000 for the first time in three weeks. This happened due to the price exiting the triangle. Yesterday the pair BTC/USD broke through the upper border of the triangle at $10740 and continued to rise. Today the bulls continued to rise and pushed the price above $11000. However, the bulls need to turn the $11000 level into a support level.

btcusd-9-october.jpg

Traders are wondering how far will this rally go?

If you look at the daily chart of the BTC/USD pair, you can see that this is the third green candlestick in a row. Accordingly, we see the formation of an uptrend. And if the BTC/USD pair manages to stay above $11000, then its potential target will be the $12000 level.

However, once the $12000 resistance level has come into play, the BTC/USD pair must first overcome the $11850 resistance level.

Also, do not forget that on September 19, the BTC/USD pair was already trying to rise above $11000, but then the bears managed to stop the bulls in the $11150 area. This is the closest resistance level today. If Bitcoin fails to close the daily candle above $11000, we may see a return of the BTC/USD pair below $11000 to the $10900- $10700 region.

to other news

all news
ICO projects sold 400,000 ETH during November

During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.

According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

12:01 17 December /2018