• About Us
  • Privacy Policy
  • Contact Us
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptounfold
No Result
View All Result
Home Bitcoin

Bitcoin Could Explode Up to $11,400 if Bulls Break One Key Level

by admin
October 5, 2020
in Bitcoin
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter


Related Posts

US Justice Department Executes First Criminal Crypto Charge

Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

Bitcoin & Energy Merge In Texas: 3 Giant Companies Announce New Mining Facility

44 Countries Set To Meet El Salvador To Discuss Bitcoin, Here’s What We Know


  • Bitcoin and the entire cryptocurrency market are pushing higher today, which may be coming about to do strength in the stock market
  • This latest move marks an upwards break of the consolidation phase seen as of late, but it is important to note that it has not led BTC past any key technical levels
  • That being said, a move past the resistance in the lower-$11,000 region could be imminent in the near-term
  • One trader is pointing towards the price region between $11,200 and $11,400, explaining that a visit to this level could be imminent
  • He also notes that a reversal around BTC’s current price could lead it as low as $9,500

Bitcoin has been consolidating over the past few days and weeks, struggling to gain any momentum as the entire market’s uptrend stalls.

This lack of momentum has been jarring for investors and traders alike and has struck a serious blow to investor sentiment.

That being said, analysts are now noting that upside could be imminent in the days and weeks ahead, potentially helping to lead the crypto up towards $11,400 next.

Bitcoin Breaks Tight Consolidation Phase as Bulls Attempt to Spark a Rally

At the time of writing, Bitcoin is trading up marginally at its current price of $10,700.

Although this only marks a slight climb from where it has been trading throughout the past several days and weeks, it is important to note that this seems to mark a bull-favoring break above the upper boundary of the tight trading range seen over the past few days.

This range existed between $10,500 and $10,600, coming about as a result of the cryptocurrency’s severe lack of directionality.

If it is to see further upwards momentum, it is imperative that it breaks above $11,000 next.

Here’s How High BTC Could Rally Next if Bulls Stay in Control

While looking towards Bitcoin’s near-term trend, one analyst observed that the cryptocurrency could soon make a move up towards $11,400.

He does note that any rejection before this level is reached could be grave, and potentially cause it to see serious downside.

“Bitcoin: Regarding this one, still a basic approach. Every level of resistance gets a confirmation, similarly with the current resistance zone (Red block). If that breaks, $11,200-11,400. However, reversing here and I target $9,500-9,800 as a potential cycle low,” he said.

Image Courtesy of Crypto Michaēl. Char via TradingView.

Where the entire market trends next will depend on Bitcoin, so the benchmark digital asset must remain strong in the days ahead as it approaches its key $11,000 resistance.

Featured image from Unsplash.
Charts from TradingView.





Source link

Tags: BitcoinBreakbullsExplodekeyLevel

Popular

Press Release

Knox Wire Uses Distributed Ledger Technology to Improve Real-Time Gross Settlement Service

by admin
March 26, 2022
0

Blockchain technology has infiltrated every industry in recent years, making them safer and more effective. Now, it has reached the...

Read more

Elimobile Launches the First Tokenized Telco, Partners with Elite Token to Create a Celebrity Powered Ecosystem

May 16, 2022

Lazy 8ight Yacht Club Announces Plans To Expand Its Digital Marine Exploration

May 12, 2022

The original DogekingDAO Foundation has reached a cooperation with the project DAO autonomous organization

May 11, 2022

Users of "Fitcoin", A Mobile Fitness App, Are Rewarded for Staying Fit

May 16, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Cash Management Firm Coinshift Closes $15M Series A Led by Tiger Global
  • Cardano Metaverse IDO Platform GOmetalaunch Launches It’s ISPO Ahead Of It’s $URGO wallet Testnet Release
  • Voyager Digital Downgraded by Compass Point on Concerns Over Crypto Markets, Retail Investing
  • Rethinking Social Media for the Metaverse
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptounfold.org

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptounfold.org

  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$49,095.002.28%
  • ethereumEthereum(ETH)$3,384.05-0.62%
  • HEXHEX(HEX)$0.1290085.45%
  • cardanoCardano(ADA)$2.18-2.77%
  • tetherTether(USDT)$1.00-0.27%
  • binancecoinBinance Coin(BNB)$425.46-0.83%
  • SolanaSolana(SOL)$166.52-1.81%
  • rippleXRP(XRP)$1.04-1.73%
  • usd-coinUSD Coin(USDC)$1.000.74%