{"id":395315,"date":"2019-09-06T19:00:00","date_gmt":"2019-09-06T19:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=395315"},"modified":"2024-06-11T13:25:10","modified_gmt":"2024-06-11T13:25:10","slug":"bitcoin-begins-forming-coveted-bull-cross","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-begins-forming-coveted-bull-cross\/","title":{"rendered":"Bitcoin Begins Forming Coveted Bull Cross"},"content":{"rendered":"

Overnight Bitcoin (BTC) was able to incur a significant amount of upwards momentum that sent it shooting past its previously established resistance level around $10,800, and any extension of this upwards momentum is highly likely to send the crypto into the $11,000 region in the very near-future.<\/p>\n

This upwards momentum has also allowed Bitcoin to begin forming a highly bullish technical formation that could help it significantly further extend its recently established upwards momentum.<\/p>\n

Bitcoin Surges Towards $11,000 <\/strong><\/h2>\n

At the time of writing, Bitcoin<\/a> is trading up over 3% at its current price<\/a> of $10,880 and is up significantly from its daily lows of below $10,500 that were set yesterday.<\/p>\n

Last weekend, Bitcoin incurred some upwards momentum after dropping as low as $9,400, which sent it to highs of roughly $10,700, a level that previously proved to be a strong region of resistance that was broken above during the crypto\u2019s surge this morning.<\/p>\n

Although the break above this resistance level is certainly a bullish development, it is important to note that it still faces strong resistance just below $11,000, and a failure to close above this level today could send it reeling back and erasing much of its recent gains.<\/p>\n

Luke Martin, a popular crypto analyst on Twitter, spoke about the importance of this resistance level in a recent tweet, saying:<\/p>\n

\u201cHighlighted the previous price action at this resistance level for $BTC. Compare the time price was able to close through the zone versus not closing above 10950: breakout vs rejection. If price closes above 10950 I expect follow through to the upside.\u201d<\/p><\/blockquote>\n

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Highlighted the previous price action at this resistance level for $BTC<\/a>. <\/p>\n

Compare the time price was ale to close through the zone versus not closing above 10950: breakout vs rejection.<\/p>\n

If price closes above 10950 I expect follow through to the upside. pic.twitter.com\/Zdx7Bmr1BW<\/a><\/p>\n

— Luke Martin (@VentureCoinist) September 6, 2019<\/a><\/p><\/blockquote>\n