{"id":392430,"date":"2019-08-07T20:00:03","date_gmt":"2019-08-07T20:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=392430"},"modified":"2019-08-07T14:45:44","modified_gmt":"2019-08-07T14:45:44","slug":"bitcoin-price-weekly-close-above-11500-would-be-first-in-nearly-18-months","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-weekly-close-above-11500-would-be-first-in-nearly-18-months\/","title":{"rendered":"Bitcoin Price Weekly Close Above $11,500 Would Be First in Nearly 18 Months"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> throughout 2018 was locked in a bear market and downtrend that ultimately took the price of the first-ever crypto asset to its bottom at $3,200. But during the almost 8 months of 2019, Bitcoin has been in an uptrend and is preparing to enter a bull market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But before it gets there, Bitcoin price still needs to close a weekly candle above $11,500 \u2013 a feat it hasn\u2019t accomplished in nearly 18 months.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bear Market Began at $11,500, BTC Stuck Below Resistance Since<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">High timeframe candlestick closes are often <a href=\"https:\/\/twitter.com\/coldbloodshill\/status\/52438016?s=12\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">hyped by the crypto community<\/a>, from the daily to weekly, and beyond. Weekly and monthly closes are especially important and typically represent a stronger technical signal across longer-term trends.<\/span><\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/u\/TonySpilotro\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-392434 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/bitcoin-price-weekly-11500.png?resize=860%2C433\" alt=\"Bitcoin Price Weekly Close Above $11,500 Would Be First in Nearly 18 Months\" width=\"860\" height=\"433\"><\/a><\/p>\n<p class=\"p1\"><span class=\"s1\">On Sunday night, the weekly close in Bitcoin price at around $10,900 was a strong close, beating out the two previous weeks and setting the crypto asset up for further bullish momentum. However, above here, there is strong resistance remaining from where the transition from parabolic advance and bull market into downtrend and bear market first began.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/07\/31\/bitcoin-nvt-ratio-top\/\">Bitcoin NVT Ratio: Top Predicting Signal Hits Highest Peak, Is a 50% Drop Ahead?<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin price has not closed a weekly candle above $11,500, suggesting it may be the final hurdle it must overcome before the bull market can begin. The last weekly candle to close above $11,500 was back in January 2018, before the bear market really took hold of Bitcoin and crypto.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Must Break $13,800 Before New All-Time Highs Are Set<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">If any other barriers remain above $11,500, it would be $13,800 \u2013 where Bitcoin price was rejected violently back at the end of June, causing a flash crash of over $1,000 in minutes in reaction to meeting the powerful resistance level for the first time in well over a year.<\/span><\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/u\/TonySpilotro\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-392435\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/bitcoin-price-weekly-13800.png?resize=860%2C433\" alt=\"\" width=\"860\" height=\"433\"><\/a><\/p>\n<p class=\"p1\"><span class=\"s1\">The price level also represents another potential resistance level that may need to be breached in order to truly embark on a bull run. The last time a weekly candle closed above $13,800, was on January 1, 2018, signaling an end to the bull run and hype bubble of 2017.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">At the peak, Bitcoin price reached an all-time high of $20,000. If Bitcoin can once again break above $11,500, and then $13,800, it could be off to the races in terms of retesting its all-time high and potentially setting a new one. There is some minor weekly resistance at $15,250, but the momentum of breaking above $13,800 could cause Bitcoin price to blow right past it much like it did when it broke back above $6,000 earlier in the year.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/08\/02\/golden-cross-bullish-bitcoin-price\/\">\u201cGolden\u201d Bullish Bitcoin Price Signal: Are 5000% BTC Gains Ahead?\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The current days and weeks are critical for Bitcoin price and the near-term future of its price trend. Watch these important resistance levels closely as price action develops and plan any buying or selling accordingly.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price throughout 2018 was locked in a bear market and downtrend that ultimately took the price of the first-ever crypto asset to its bottom at $3,200. But during the almost 8 months of 2019, Bitcoin has been in an uptrend and is preparing to enter a bull market. But before it gets there, Bitcoin price still needs to close a weekly candle above $11,500 \u2013 a feat it hasn\u2019t accomplished in nearly 18 months. Bear Market Began at $11,500, BTC Stuck Below Resistance Since High timeframe candlestick closes are often hyped by the crypto community, from the daily to weekly, and beyond. Weekly and monthly closes are especially important and typically represent a stronger technical signal across longer-term trends. On Sunday night, the weekly close in Bitcoin price at around $10,900 was a strong close, beating out the two previous weeks and setting the crypto asset up for further bullish momentum. However, above here, there is strong resistance remaining from where the transition from parabolic advance and bull market into downtrend and bear market first began. Related Reading | Bitcoin NVT Ratio: Top Predicting Signal Hits Highest Peak, Is a 50% Drop Ahead? Bitcoin price has not closed a weekly candle above $11,500, suggesting it may be the final hurdle it must overcome before the bull market can begin. The last weekly candle to close above $11,500 was back in January 2018, before the bear market really took hold of Bitcoin and crypto. Bitcoin Price Must Break $13,800 Before New All-Time Highs Are Set If any other barriers remain above $11,500, it would be $13,800 \u2013 where Bitcoin price was rejected violently back at the end of June, causing a flash crash of over $1,000 in minutes in reaction to meeting the powerful resistance level for the first time in well over a year. The price level also represents another potential resistance level that may need to be breached in order to truly embark on a bull run. The last time a weekly candle closed above $13,800, was on January 1, 2018, signaling an end to the bull run and hype bubble of 2017. At the peak, Bitcoin price reached an all-time high of $20,000. If Bitcoin can once again break above $11,500, and then $13,800, it could be off to the races in terms of retesting its all-time high and potentially setting a new one. There is some minor weekly resistance at $15,250, but the momentum of breaking above $13,800 could cause Bitcoin price to blow right past it much like it did when it broke back above $6,000 earlier in the year. Related Reading | \u201cGolden\u201d Bullish Bitcoin Price Signal: Are 5000% BTC Gains Ahead?\u00a0 The current days and weeks are critical for Bitcoin price and the near-term future of its price trend. Watch these important resistance levels closely as price action develops and plan any buying or selling accordingly.<\/p>\n","protected":false},"author":517,"featured_media":392436,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,679,4078,50721],"class_list":["post-392430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-bitcoin-price","tag-technical-analysis","tag-weekly-close"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Weekly Close Above $11,500 Would Be First in Nearly 18 Months<\/title>\n<meta name=\"description\" content=\"Bitcoin price throughout 2018 was locked in a bear market and downtrend that ultimately took the price of the first-ever crypto asset to its bottom at\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-price-weekly-close-above-11500-would-be-first-in-nearly-18-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Weekly Close Above $11,500 Would Be First in Nearly 18 Months\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price throughout 2018 was locked in a bear market and downtrend that ultimately took the price of the first-ever crypto asset to its bottom at\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-price-weekly-close-above-11500-would-be-first-in-nearly-18-months\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-07T20:00:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-07T14:45:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/bitcoin-price-weekly-candle-close-shutterstock_1024940827.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5000\" \/>\n\t<meta property=\"og:image:height\" content=\"3224\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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