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{"id":434923,"date":"2020-08-16T04:28:33","date_gmt":"2020-08-16T04:28:33","guid":{"rendered":"https:\/\/wncen.com\/?p=434923"},"modified":"2024-06-11T09:30:21","modified_gmt":"2024-06-11T09:30:21","slug":"bitcoin-significant-surge-12k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-significant-surge-12k\/","title":{"rendered":"Bitcoin Breaking This Confluence Resistance Could Spark a Significant Surge 2020-08-16"},"content":{"rendered":"

Bitcoin is trading in a bullish zone above the $11,650 level against the US Dollar. BTC is likely to accelerate higher once it clears the key $12,050 resistance zone.<\/em><\/p>\n

\n
Bitcoin is gaining bullish momentum and it is approaching the $12,000 resistance zone.<\/li>\n
The price is forming a strong support near the $11,650 level and the 100 simple moving average (4-hours).<\/li>\n
There is a crucial bullish trend line with support near $11,500 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct a few points, but the price action suggests more gains above $12,000.<\/li>\n<\/ul>\n
Bitcoin is Gaining Traction<\/h2>\n
In the past few days, there was a positive price action in bitcoin, Ethereum<\/a> and ripple<\/a> against the US Dollar. BTC remained well bid above the $11,200 level and the 100 simple moving average (4-hours).<\/p>\n
It started a fresh increase from the $11,276 swing low and climbed above the main $11,500 resistance area. There was a break above a connecting bearish trend line with resistance near $11,600 on the 4-hours chart of the BTC\/USD pair.<\/p>\n
The pair retested the $12,000 resistance zone and it is currently consolidating gains. An initial support is near the $11,800 level. It is close to the 23.6% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high.<\/p>\n
$\"Bitcoin\"$ <\/a><\/p>\n
Bitcoin price testing $12,000. Source: TradingView.com<\/a><\/pre>\n
The main support is forming near the $11,650 level or the 50% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high. There is also a crucial bullish trend line with support near $11,500 on the 4-hours chart of the same chart.<\/p>\n
On the upside, a successful daily close above the $12,000 and $12,050 levels may perhaps open the doors for another rally. The next major resistance could be $12,400 or $12,600.<\/p>\n
Dips Likely To Be Supported in BTC<\/h2>\n
If bitcoin starts a downside correction, it is likely to find support near $11,650 or $11,600. The breakdown support is near the trend line and the $11,500 pivot level.<\/p>\n
A downside break below the $11,650 and $11,500 support levels could initiate a substantial downward move in the coming sessions. The next key support is near $11,200, followed by the $11,000 handle.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is slowly gaining momentum in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 55 level.<\/p>\n
Major Support Level \u2013 $11,650<\/p>\n
Major Resistance Level \u2013 $12,050<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is trading in a bullish zone above the $11,650 level against the US Dollar. BTC is likely to accelerate higher once it clears the key $12,050 resistance zone. Bitcoin is gaining bullish momentum and it is approaching the $12,000 resistance zone. The price is forming a strong support near the $11,650 level and the 100 simple moving average (4-hours). There is a crucial bullish trend line with support near $11,500 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could correct a few points, but the price action suggests more gains above $12,000. Bitcoin is Gaining Traction In the past few days, there was a positive price action in bitcoin, Ethereum and ripple against the US Dollar. BTC remained well bid above the $11,200 level and the 100 simple moving average (4-hours). It started a fresh increase from the $11,276 swing low and climbed above the main $11,500 resistance area. There was a break above a connecting bearish trend line with resistance near $11,600 on the 4-hours chart of the BTC\/USD pair. The pair retested the $12,000 resistance zone and it is currently consolidating gains. An initial support is near the $11,800 level. It is close to the 23.6% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high. Bitcoin price testing $12,000. Source: TradingView.com The main support is forming near the $11,650 level or the 50% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high. There is also a crucial bullish trend line with support near $11,500 on the 4-hours chart of the same chart. On the upside, a successful daily close above the $12,000 and $12,050 levels may perhaps open the doors for another rally. The next major resistance could be $12,400 or $12,600. Dips Likely To Be Supported in BTC If bitcoin starts a downside correction, it is likely to find support near $11,650 or $11,600. The breakdown support is near the trend line and the $11,500 pivot level. A downside break below the $11,650 and $11,500 support levels could initiate a substantial downward move in the coming sessions. The next key support is near $11,200, followed by the $11,000 handle. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is slowly gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 55 level. Major Support Level \u2013 $11,650 Major Resistance Level \u2013 $12,050<\/p>\n","protected":false},"author":67,"featured_media":434925,"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-434923","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":"\nBitcoin Breaking This Confluence Resistance Could Spark a Significant Surge 2020-08-16<\/title>\n<meta name=\"description\" content=\"Bitcoin is trading in a bullish zone above the $11,650 level against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Breaking This Confluence Resistance Could Spark a Significant Surge 2020-08-16","url":"http:\/\/wncen.com\/news\/bitcoin-significant-surge-12k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-significant-surge-12k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Depositphotos_13737082_s-2019-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Depositphotos_13737082_s-2019-1.jpg?fit=1000%2C750"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-08-16T04:28:33Z","datePublished":"2020-08-16T04:28:33Z","dateModified":"2024-06-11T09:30:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Breaking This Confluence Resistance Could Spark a Significant Surge 2020-08-16\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-significant-surge-12k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-significant-surge-12k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Depositphotos_13737082_s-2019-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/Depositphotos_13737082_s-2019-1.jpg?fit=1000%2C750\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-08-16T04:28:33Z\",\"datePublished\":\"2020-08-16T04:28:33Z\",\"dateModified\":\"2024-06-11T09:30:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Depositphotos_13737082_s-2019-1.jpg?fit=1000%2C750","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/434923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=434923"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/434923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/434925"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=434923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=434923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=434923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}