RATE Group | Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers
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Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers

19 Jul Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers

Posted at 07:01h in Bitcoin News by

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  • Bitcoin price started a strong recovery and broke the key $10,000 resistance area against the US Dollar.
  • The price surged more than 10% and broke the $10,500 resistance to test $10,800.
  • There was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price traded as high as $10,807 and it is currently consolidating gains.

Bitcoin price surged more than 10% above $10,500 against the US Dollar. BTC is currently consolidating gains and dips are likely to find a strong support above $10,000 and $10,200.

Bitcoin Price Analysis

In the past few days, we saw a major drop in bitcoin price below the $10,000 support against the US Dollar. The BTC/USD pair traded close the $9,000 support level and formed a new monthly low near $9,095. Later, the price formed a decent support base above $9,400 and recently started an upward move. It surged more than $1,000 and broke the key $10,000 resistance.

There was a break above…

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