Bitcoin above 11 thousand dollars. Next stop — 100 thousand

Today, Bitcoinhas finally managed to break through the psychologically important resistance level of $ 10,000. Trade BTC/USD almost reached the line 11 000 dollars, after the establishment of the annual maximum of the asset fell below. Note that the current price level the cryptocurrency to a historic high of BTC was only $ 9,000.

The General situation looks like this:

  • Bitcoin has broken 11 thousand dollars;
  • before that, the 1 hour chart formed another local uptrend with support in the region of 10 $ 200;
  • day ago for BTC gave 9843 dollar.

At the moment Bitcoin is trading at 11 053 dollars. For the past day the price of the asset increased by 12 percent.

Technical analysis

Yesterday the market players witnessed a strong break of resistance around 9600 dollars. This move the bulls have robbed the bears of the last obstacle before the line of 10 thousand dollars. Several hours later, the buyers finally managed to gain a foothold even higher and the majority of traders have opened a huge number of long positions.

Now there is no doubt, Bitcoin is in a bull market and before the cryptocurrency, almost no serious resistance levels. Note that the Fibonacci 0.5 level, laid on a wave of growth with 903 9853 to 10 dollars at the moment of the closest support level. Also pay attention to the local uptrend marked on the chart below.

Source: TradingView

Soon can happen, a local correction, so use the retracement to open a profitable long position. Do not forget about stop loss: we recommend to place them slightly below the 10 $ 200.

One hundred thousand is not the limit

We can only guess where the maximum of this bullrun. Trader Peter Brandt has an opinion on this — today he said that Bitcoin can achieve 100 thousand dollars in the foreseeable future. Recall that Brandt with stunning accuracy has predicted a local minimum point of the bearish trend.

Bitcoin aims for 100 thousand dollars. BTC/USD moves in your fourth parabolic rise in 2010. Still no market for 45 years of my career had not behaved in a logarithmic graph. Bitcoin is not like other assets.

The index of dominance BTC has almost reached 59.7 percent. The majority of altcoins in tandem with the main cryptocurrency again show negative results in terms of profitability. This trend may persist for another few months, so keep a large part of the portfolio in Bitcoin. And subscribe to our cryptcat of hontarov, of course!

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