{"id":436856,"date":"2020-09-01T04:08:57","date_gmt":"2020-09-01T04:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=436856"},"modified":"2024-06-11T14:15:48","modified_gmt":"2024-06-11T14:15:48","slug":"bitcoin-is-about-to-see-strong-liftoff","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-is-about-to-see-strong-liftoff\/","title":{"rendered":"Bitcoin is About to See Strong \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level"},"content":{"rendered":"<p><em>Bitcoin price is trading in a bullish zone above the $11,600 support against the US Dollar. BTC is likely to gain strong momentum above $11,800 as long as it is above $11,550.<\/em><\/p>\n<ul>\n<li>Bitcoin is following a nice bullish path above the $11,550 and $11,600 support levels.<\/li>\n<li>The price is facing hurdle near $11,800, but it is well above the 100 hourly simple moving average.<\/li>\n<li>There is a crucial bullish trend line forming with support near $11,580 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to rally above $11,800 and $12,000 as long as it is above the $11,550 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Showing Bullish Signs<\/h2>\n<p>There was a <a href=\"https:\/\/ktsl888.com\/2020\/08\/31\/bitcoin-shows-signs-of-reversal\/\" target=\"_blank\" rel=\"noopener \">strong positive move in bitcoin price<\/a> above the $11,500 resistance against the US Dollar. BTC climbed above the $11,550 resistance and settled well above the 100 hourly simple moving average.<\/p>\n<p>It traded as high as $11,784 and recently started a downside correction. There was a break below the $11,650 support, but the price remained well bid above the $11,550 support. A low is formed near $11,533 and the price is currently rising.<\/p>\n<p>It broke the $11,650 resistance level to start a fresh upward move. The bulls were able to push the price above the 50% Fib retracement level of the recent decline from the $11,784 high to $11,533 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-436857\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?resize=1828%2C868\" alt=\"Bitcoin\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Bitcoin price trades above $11,600. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>It seems like there is a crucial bullish trend line forming with support near $11,580 on the hourly chart of the BTC\/USD pair. An immediate resistance on the upside is near the $11,725 level. It is close to the 76.4% Fib retracement level of the recent decline from the $11,784 high to $11,533 low.<\/p>\n<p>If bitcoin climbs above the $11,725 resistance, it is likely to break the recent high and the $11,800 resistance. The <a href=\"https:\/\/ktsl888.com\/2020\/08\/30\/bitcoin-could-rally-towards-12500\/\" target=\"_blank\" rel=\"noopener \">next key resistance on the upside<\/a> is near the $12,000, above which the price is likely to accelerate higher.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If there is no upside break above the $11,800 resistance, bitcoin price might correct lower. An initial support is near the trend line and the $11,600 level.<\/p>\n<p>The main support is still near the $11,550 and $11,500 levels, below which the price is likely to move into a short-term bearish zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising and it is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $11,600, followed by $11,550.<\/p>\n<p>Major Resistance Levels \u2013 $11,800, $11,850 and $12,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is trading in a bullish zone above the $11,600 support against the US Dollar. BTC is likely to gain strong momentum above $11,800 as long as it is above $11,550. Bitcoin is following a nice bullish path above the $11,550 and $11,600 support levels. The price is facing hurdle near $11,800, but it is well above the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $11,580 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to rally above $11,800 and $12,000 as long as it is above the $11,550 support. Bitcoin Price Showing Bullish Signs There was a strong positive move in bitcoin price above the $11,500 resistance against the US Dollar. BTC climbed above the $11,550 resistance and settled well above the 100 hourly simple moving average. It traded as high as $11,784 and recently started a downside correction. There was a break below the $11,650 support, but the price remained well bid above the $11,550 support. A low is formed near $11,533 and the price is currently rising. It broke the $11,650 resistance level to start a fresh upward move. The bulls were able to push the price above the 50% Fib retracement level of the recent decline from the $11,784 high to $11,533 low. Bitcoin price trades above $11,600. Source: TradingView.com It seems like there is a crucial bullish trend line forming with support near $11,580 on the hourly chart of the BTC\/USD pair. An immediate resistance on the upside is near the $11,725 level. It is close to the 76.4% Fib retracement level of the recent decline from the $11,784 high to $11,533 low. If bitcoin climbs above the $11,725 resistance, it is likely to break the recent high and the $11,800 resistance. The next key resistance on the upside is near the $12,000, above which the price is likely to accelerate higher. Dips Supported in BTC? If there is no upside break above the $11,800 resistance, bitcoin price might correct lower. An initial support is near the trend line and the $11,600 level. The main support is still near the $11,550 and $11,500 levels, below which the price is likely to move into a short-term bearish zone. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising and it is above the 50 level. Major Support Levels \u2013 $11,600, followed by $11,550. Major Resistance Levels \u2013 $11,800, $11,850 and $12,000.<\/p>\n","protected":false},"author":67,"featured_media":436858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-436856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin is About to See Strong \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level<\/title>\n<meta name=\"description\" content=\"Bitcoin price is trading in a bullish zone above the $11,600 support. 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