RATE Group | Bitcoin Price (BTC) Signaling Bullish Continuation To $11K
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Bitcoin Price (BTC) Signaling Bullish Continuation To $11K

20 Jul Bitcoin Price (BTC) Signaling Bullish Continuation To $11K

Posted at 06:24h in Bitcoin News by

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  • Bitcoin price rallied recently above the $10,000 and $10,200 resistance levels against the US Dollar.
  • The price climbed towards the $10,800 resistance and recently started consolidating gains.
  • There is a contracting triangle forming with resistance near $10,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price could accelerate towards $11,000 and $11,200 if it clears the $10,800 resistance.

Bitcoin price is showing a lot of positive signs above the $10,400 support against the US Dollar. BTC is currently preparing for more upsides and it could rally towards $11,000.

Bitcoin Price Analysis

After a major decline below $10,000, bitcoin price found support above $9,100 against the US Dollar. The BTC/USD pair formed a decent support base above the $9,500 level and recently started a strong recovery. Besides, it broke the key $10,000 resistance to move into a positive zone. Finally, the upward move was such that the price even traded above $10,200 and the 100 hourly…

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