{"id":433223,"date":"2020-08-04T03:48:17","date_gmt":"2020-08-04T03:48:17","guid":{"rendered":"https:\/\/wncen.com\/?p=433223"},"modified":"2024-06-11T14:06:02","modified_gmt":"2024-06-11T14:06:02","slug":"bitcoin-price-rally-above-11500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-rally-above-11500\/","title":{"rendered":"Technicals Suggest Bitcoin Price Needs To Clear $11,500 To Restart Rally"},"content":{"rendered":"
Bitcoin started a fresh increase above the $11,000 level against the US Dollar. BTC must surpass the $11,500 resistance zone to continue higher in the near term.<\/em><\/p>\n
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Bitcoin is trading nicely above the $11,000 and $11,200 support levels.<\/li>\n
The price seems to be facing a major hurdle near the $11,450 and $11,500 resistance levels.<\/li>\n
There is a key rising channel forming with support near $11,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must clear the $11,500 resistance area to gain bullish momentum for a move towards $11,800.<\/li>\n<\/ul>\n
Bitcoin Price is Showing Positive Signs<\/h2>\n
After a sharp downside correction, bitcoin price remained stable above $10,500 against the US Dollar. BTC started a fresh increase and climbed above the $11,000 resistance zone.<\/p>\n