RATE Group | Bitcoin (BTC) Price Could Revisit $11.2K or $11.4K
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Bitcoin (BTC) Price Could Revisit $11.2K or $11.4K

20 Aug Bitcoin (BTC) Price Could Revisit $11.2K or $11.4K

Posted at 06:21h in Bitcoin News by

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  • Bitcoin price extended gains above the key $10,600 and $10,800 resistances against the US Dollar.
  • The price is currently correcting lower after trading to a new weekly high at $10.960.
  • Yesterday’s highlighted major bullish trend line is intact with support near $10,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price could correct lower, but it seems like the bulls are eyeing a test of the $11,200 resistance area.

Bitcoin price is gaining bullish momentum above $10,500 against the US Dollar. BTC is likely to climb towards $11,200 or $11,400 as long as it stays above $10,500.

Bitcoin Price Analysis

Yesterday, we discussed the chances of a strong rise in BTC if it breaks $10,600 against the US Dollar. The price did gain bullish momentum above the $10,500 and $10,600 resistance levels. It opened the doors for more gains above the $10,700 level and the 100 hourly simple moving average. Finally, the price surpassed the $10,800 resistance and traded to a new weekly…

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