RATE Group | Bulls take a breather after the 4% surge, what’s next?
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Bulls take a breather after the 4% surge, what’s next?

11 Nov Bulls take a breather after the 4% surge, what’s next?

Posted at 00:43h in Bitcoin News by

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  • Bitcoin surged close to 4% in under 10 minutes, bulls back in charge.
  • Will it sustain the upside above 9k en route 9,250?

Bitcoin (BTC/USD), the most widely traded cryptocurrency, witnessed a sharp U-turn from the early Sunday sluggish momentum and broke the range to upside late-Sunday after stops got triggered on a break above the key resistance zone around 8,880/90 levels.  The spike saw the price rise by almost 4% in less than 10 minutes, completely negating the bearish technical picture painted on the hourly sticks in early trades.

The no.1 coin reached fresh four-day tops of 9,137 but quickly faded the spike to revert to the 9,050 range before settling the day around 9,030 region. The price opened the new week, this Monday, on a positive note, having reached session highs at 9,048. The bulls now take a breather, allowing a phase of consolidation after the recent upsurge. Also, as the coin gathers momentum in order to regain the 9,200 level, a break…

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