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Bitcoin Crosses $10,500; what’s Next for Bitcoin in the Eyes of Traders?

After hovering between $10,000 ad $10,500 in the past few days, Bitcoin has finally jumped above $10,500. The next resistance seems to exist at around $11,000.

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As Bitcoin moved higher, liquidation worth $6 million happened during this, claims crypto data firm Skew.com. The value is noticed only from the BTC market of BitMEX, which means liquidations worth millions happen during BTC’s upward movement.

BTC Chart

A crypto trader shared a chart in which there is a buy signal for Bitcoin on the daily candle. The same signal was seen in July end when the price was standing around $9,000. Before the flash crash of the top digital asset from $12,000 to $10,000, the indicator showed a sell signal.

The chart also shows that the current price value is running against the weekly trend which is a bullish signal for Bitcoin. However, Bitcoin bulls still need to work to push the price upward.

Bitcoin could move towards $11,000 which is the next resistance point for Bitcoin, claims cryptocurrency trader.

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Wall Street investors also have bullish sentiments for world-leading cryptocurrency. Dan Tapiero, the co-founder of DTAP Capital and Gold Bullion, said:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

Bitcoin to $11.2k

A cryptocurrency trader, who is known for his correct prediction in the past, predicted $3,200 for Bitcoin in 2018, and in the next six months, the price reached $3,150. He says:

“looks to me like a lower timeframe ascending triangle breakout on $btc. technically i feel we have to be bullish again here. macro picture i’m unsure of now, just trading what im dealt.”

“No candle has closed below 10.100 in 7 days, good work of the Spartans. Now bulls need to close above to 10.450 to “confirm” a up move to 11.2k,” another crypto trader said.

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Hassan Mehmood

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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