{"id":438844,"date":"2020-09-18T04:08:34","date_gmt":"2020-09-18T04:08:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=438844"},"modified":"2024-06-11T14:16:32","modified_gmt":"2024-06-11T14:16:32","slug":"bitcoin-looks-ready-for-leg-over-11k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-looks-ready-for-leg-over-11k\/","title":{"rendered":"Technicals Suggest Bitcoin Looks Ready For Another Leg Higher Over $11K"},"content":{"rendered":"
Bitcoin price corrected lower, but it found support near the $10,750 zone against the US Dollar. BTC is currently rising and it looks ready for another break above the $11,000 resistance.<\/em><\/p>\n Recently, we saw a downside correction<\/a> in bitcoin price from the $11,107 swing high against the US Dollar. BTC corrected below the $10,900 level, but it stayed well above the 100 hourly simple moving average.<\/p>\n The price tested the $10,750 zone, where the bulls took a strong stand. A low is formed near the $10,751 level and the price is currently rising. It is trading above the $10,800 and $10,900 levels. There was also a break above the 50% Fib retracement level of the recent downside correction from the $11,107 high to $10,751 low.<\/p>\n An immediate resistance is near the $10,980 and $11,000 levels. The 61.8% Fib retracement level of the recent downside correction from the $11,107 high to $10,751 low is also near the $10,970 level to act as a hurdle.<\/p>\n <\/a><\/p>\n It seems like there is a key bullish trend line forming with support near $10,880 on the hourly chart of the BTC\/USD pair. As long as the price is following the trend line, there are chances of an upside break above the $11,000 resistance.<\/p>\n The next resistance is near the $11,100 zone, above which the price is likely to accelerate higher towards the $11,400 ad $11,500 levels in the near term.<\/p>\n There are many key supports forming for bitcoin near the $10,800 and $10,750 levels. The 100 hourly SMA is also near the $10,750 zone.<\/p>\n\n
Bitcoin Price Could Surge Past $11K<\/h2>\n
Bitcoin price approaching $11,000. Source: TradingView.com<\/a><\/pre>\n
Dips Protected in BTC?<\/h2>\n