• 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

Here’s How High Bitcoin May Rally Before Losing Steam

by admin
October 14, 2020
in Bitcoin
0
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter


Related Posts

Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity

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


  • Bitcoin’s price has been showing signs of strength as its consolidation phase continues
  • Although its upwards momentum has faltered, its current stability within the mid-$11,000 region is promising, as it points to some underlying strength amongst bulls
  • Where the cryptocurrency trends in the near-term will likely depend primarily on its reaction to a couple of key levels
  • One analyst is noting that a strong upside movement could be imminent in the near-term
  • That being said, he still thinks the resistance seen throughout the upper-$11,000 region could be enough to spark a selloff

Bitcoin and the aggregated crypto market have struggled to garner any strong momentum throughout the past few days.

This consolidation has come about closely after the series of strong moves that helped lift BTC from $10,400 to highs of $11,700.

The resistance between $11,600 and $12,000 is quite intense, and Bitcoin’s inability to break above this price region thus far indicates that it may continue holding strong.

One analyst does believe that a test of this region could be imminent, setting his sights on a move up to highs of $11,800.

He stated that it might see a rejection here that causes it to plunge back towards the lower-$11,000 region.

Bitcoin Continues Consolidating as Overhead Resistance Grows Heavy 

At the time of writing, Bitcoin is trading up just under 1% at its current price of $11,550. This marks a notable surge from early morning lows of $11,400 set just a handful of hours ago.

BTC is trading just a hair below where its resistance zone first begins, and $11,600 has sparked multiple rejections as of late.

Even if bulls can surmount this level in the near-term, the resistance between $11,600 and $12,000 may suppress its upwards momentum.

Analyst: BTC May Tap $11,800 Before Plunging Lower

One trader believes that today’s slight push higher may extend all the way up towards $11,800.

He believes that this region contains enough selling pressure to slow its ascent and possibly even cause it to plunge towards $11,200.

“BTC: Think we get some upside here tbh. Poor highs above. Could offer some nice short entries imo ~ still at HTF resistance.”

Image Courtesy of George. Chart via TradingView.

If Bitcoin can muster up enough support to break above the region between $11,600 and $12,000, it could be in for some massive gains in the near-term.

Featured image from Unsplash.
Charts from TradingView.





Source link

Tags: BitcoinHereshighLosingrallySteam

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

  • Blockchain Investment Firm Fortis Digital Raising $100M Fund
  • Robinhood Plans ‘Web 3’ Crypto Wallet for DeFi Traders, NFT Buyers
  • BitcoinVision officially releases its ecosystem and attractive open sale program
  • Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity
  • 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%