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.
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.
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.
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.