{"id":388881,"date":"2019-07-06T04:28:25","date_gmt":"2019-07-06T04:28:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=388881"},"modified":"2024-06-11T12:51:03","modified_gmt":"2024-06-11T12:51:03","slug":"bitcoin-btc-price-showing-positive-signs","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-price-showing-positive-signs\/","title":{"rendered":"Bitcoin (BTC) Price Showing Positive Signs: Bulls Sighting Bullish Break"},"content":{"rendered":"
Bitcoin price is showing positive signs above the $11,200 level against the US Dollar. BTC could surge higher once it breaks the $11,600 resistance level in the near term.<\/em><\/p>\n Recently, we saw a downside correction in bitcoin price below $11,200 and $11,000 against the US Dollar. The BTC\/USD pair spiked below the $10,800 level, but later recovered nicely. There was a successful close above the $11,000 pivot level to start a decent upward move. Besides, losses were limited in Ethereum<\/a>, ripple<\/a> and other altcoins, but they failed to climb similar to BTC.<\/p>\n The price is now trading nicely above the $11,200 level and the 100 hourly simple moving average. Moreover, there was a break above the 23.6% Fib retracement level of the last drop from the $12,055 swing high towards the $10,800 support area<\/a>. The price is now trading above the $11,500 level, but facing resistance near the $11,600 level. Moreover, there is a key bearish trend line forming with resistance near $11,600 on the hourly chart of the BTC\/USD pair.<\/p>\n Above the trend line, the next resistance is near the $11,700 level. The 76.4% Fib retracement level of the last drop from the $12,055 swing high towards the $10,800 support area is also near the $11,700 level. If there is an upside break above the $11,600 and $11,700 levels, there could be strong gains in the coming sessions. Bitcoin price could easily break the $11,800 and $12,000 levels to continue higher.<\/p>\n Conversely, if there is no upside break, the price may correct lower once again below $11,500 and $11,400. An initial support is near the $11,200 level, below which the price may perhaps test the $11,000 support area.<\/p>\nBitcoin Price Analysis<\/h2>\n