The Bulls have Stopped the Panic and are sending Bitcoin towards the $ 11K

The Bulls have Stopped the Panic and are sending Bitcoin towards the $ 11K

In the Bitcoin market, it turned out quite well in the end, and the bulls did not allow it to fall below $ 10K.


14 Sep 2020 , 18:37 @ CRYPTOSCARFACE

The Bulls have Stopped the Panic and are sending Bitcoin towards the $ 11K

In the Bitcoin market, it turned out quite well in the end, and the bulls did not allow it to fall below $ 10K.

In our past analysis, we have highlighted the fact that bitcoin cannot fall below $ 10K to maintain a good mood in the market and the bulls have succeeded. However, we witnessed several more attacks and support at $ 10K was thoroughly tested.

After all, it was basically a good retest of the resilience of a very important psychological support at $ 10K, which proved to be functional and bitcoin can now grow with more certainty.

Bitcoin began to rise again on September 9, and today it looks like it will soon aim for $ 11K. What is very important, is the fact that the CME GAP has still not been reached at $ 9,600 (it has already been filled many times) and the minimum on the binance exchange was only $ 9,825.

Technical analysis:

  • Important Support at $ 10K (multiple confirmations)
  • CME Gap at $ 9600
  • RSI 1H-3H (overbought)
  • Current Resistance at $ 11.3K
  • Strong Resistance at $ 12K
  • Probability of moving in the range of $ 10K – $ 11.3K (this week)

Read also: Crypto trading volumes literally exploded in August

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