Bitcoin the anchor of the crypto market crosses $11,000, while currently ranging between $10,600 to $10,950. Facing a sway between the said range certainly will take days for BTC price to trade above $11,000 persistently.
It was 15 months ago when BTC had manifested an $11,000 price mark. Now that it has set a new record, it is expected to surge higher than the Bull Run of 2017 helping potential investors to binge the market.
Bitcoin Price Comparison:
As per the stated time frame, it is observed that Bitcoin price was moving stably for good 1 hour without major price points on fleek. It was around 4:40 UTC that the price got an upward momentum showing an increase of 1.15% to trade from $10656.38 to $10778.62 in just 23 minutes. Post which it again started moving with a steady momentum as it had before the said change.
When analyzed technically, in the past two hours, Bitcoin spikes fueling the Moving Average Convergence Divergence (MACD) with a bullish crossover above the 9-days EMA. The 6-day SMA lies above the 20-days SMA as the major chunk of the growth is from the last week.
BTC to face resistance at $11215 with a marked support level at $10525.6. The said support level is well backed by the range within which it is majorly trading from the past 24 hours.
BTC Price Prediction:
Accordingly to Bitcoin price expectations, the BTC trend synthesizes an upwards momentum to price above $11,000 and beyond constantly.
The weekend adrenaline has rushed through the nerves of the anchor to cascade the market as it is expected to touch $15000, which prior to the current Bull Run was predicted to be hovering around $12000.