Tuesday, January 19, 2021
  • Contact Us
  • Privacy Policy
FIND CRYPTO NEWS
Advertisement
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
No Result
View All Result
FindCryptoNews.com
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
No Result
View All Result
FindCryptoNews.com
No Result
View All Result
Home Bitcoin

These 3 Factors Suggest Bitcoin May Soon Push Towards $11,250

September 15, 2020
in Bitcoin
2 min read
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields

Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?

The Three Factors That Could Topple The Recent Bitcoin Rally


  • Bitcoin has seen some incredibly strong price action throughout the past few days
  • Bulls have stepped up to the plate and propelled the crypto up towards its $11,000 resistance, marking a notable surge from recent lows of $9,900
  • These lows were visited throughout the past couple of weeks, with bears ardently attempting to invalidate Bitcoin’s macro strength
  • Their failure to do so has now opened that gates for further upside, with one analyst pointing to a few key reasons why he expects BTC to climb higher in the near-term

It has been a turbulent past few months for Bitcoin and the aggregated crypto market. Just over a week ago, bears attempted to invalidate BTC’s market structure when they pushed its price as low as $9,900.

This level held as strong support, but it ended up being visited on multiple occasions.

Eventually, bulls were able to regain control of its near-term price action, which is what has resulted in today’s strong upswing towards $11,000.

While speaking about this, one analyst explained that he is now looking towards three specific factors that all suggest this upwards move will extend even further.

The confluence of these factors does seem to place BTC in a strong position – both technically and fundamentally.

Bitcoin Shows Signs of Strength as Analysts Eye $11,000 Breakout 

At the time of writing, Bitcoin is trading up just over 2% at its current price of $10,900. This marks a notable surge from recent lows of $10,200 that were set just two days ago.

Today’s upswing marks an extension of that seen yesterday, during which time its price rocketed up towards $10,600 before facing some selling pressure.

The ultimate break above this level is what helped catalyze today’s move.

Where it trends next now largely depends on the $11,000 region, as a strong rejection here could stunt its growth, whereas a break above this level could catapult it significantly higher.

Analyst: These Three Factors Bode Well for BTC 

While speaking about the cryptocurrency’s near-term outlook, one popular trader explained that he is watching three trends closely for insight into where BTC goes next.

He concludes that these factors indicate that a surge past the $11,000 level is imminent in the near-term.

“1) Funding locked negative. 2) SPX above 3400 (it was a driving factor during down-move). 3) DEFI space in general doing well (1 YFI = 3.8 BTC). I think timing is off to rush bitcoin short positions for more than scalps, $11’250 area plausible in near future,” he said.

If these factors continue boding well for Bitcoin in the coming few days, they may be just what it needs to reclaim its position within the $11,000 region.

Featured image from Unsplash.
Pricing data from TradingView.


Credit: Source link

Previous Post

India Is Reportedly Planning to Ban Cryptocurrency Trading

Next Post

Bitcoin Whales Have Been Accumulating BTC This Year, on-Chain Data Suggests

Related Posts

Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields
Bitcoin

Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields

January 19, 2021
Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?
Bitcoin

Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?

January 18, 2021
The Three Factors That Could Topple The Recent Bitcoin Rally
Bitcoin

The Three Factors That Could Topple The Recent Bitcoin Rally

January 18, 2021
Data Suggests Whales are Keen on Protecting One Key Bitcoin Support Level
Bitcoin

Data Suggests Whales are Keen on Protecting One Key Bitcoin Support Level

January 17, 2021
Gold Begins Breakdown Against Bitcoin, Triggering 90% Decline On Per Oz Basis
Bitcoin

Bitcoin has 3 Days Before It Reaches Apex of Key Formation

January 16, 2021
Next Post
Bitfinex Trader Joe007 Explains How Anyone Can Become a Bitcoin Whale

Bitcoin Whales Have Been Accumulating BTC This Year, on-Chain Data Suggests

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Balancing Black Swan Events With Centralization May Cost Maker Its Community

Balancing Black Swan Events With Centralization May Cost Maker Its Community

June 10, 2020
CNBC Names #28 Ripple (XRP) as Disruptor More on Pay ID and Juneteenth

CNBC Names #28 Ripple (XRP) as Disruptor More on Pay ID and Juneteenth

June 20, 2020

Don't miss it

Ethereum Addresses in Profit Hit 2-Year High as ETH Closes in on $600
Regulation

As $ETH Breaks New ATH, Analyst Says Ethereum Price Will Quickly Go to $5000

January 19, 2021
Ethereum Hits New All-Time High at $1,430
Analysis

Ethereum Hits New All-Time High at $1,430

January 19, 2021
After Weathering, These Crypto Rocks Still Stand- Here’s Why
Crypto News

After Weathering, These Crypto Rocks Still Stand- Here’s Why

January 19, 2021
Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields
Bitcoin

Bitcoin Weekly Outlook: Price Hangs b/w Dovish Yellen and Rising Yields

January 19, 2021
Best Visualization of DeFi in the Tezos (XTZ) Ecosystem
Crypto News

Best Visualization of DeFi in the Tezos (XTZ) Ecosystem

January 19, 2021
Bitcoin and Ethereum Could See ‘Triple-Digit Gains’ This Year, Says Crypto Firm CEO
Regulation

Bitcoin More Likely to Succeed Than Ethereum, Investment Guru Suggests

January 19, 2021
FindCryptoNews.com

FindCryptoNews is an online news portal that aims to provide the latest crypto news and real-time updates around the world. Feel free to get in touch with us!

Recent News

Ethereum Addresses in Profit Hit 2-Year High as ETH Closes in on $600

As $ETH Breaks New ATH, Analyst Says Ethereum Price Will Quickly Go to $5000

January 19, 2021
Ethereum Hits New All-Time High at $1,430

Ethereum Hits New All-Time High at $1,430

January 19, 2021

Subscribe Now

Loading

© 2020 FindCryptoNews.com - All rights reserved!

No Result
View All Result
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading

© 2020 FindCryptoNews.com - All rights reserved!

  • bitcoinBitcoin(BTC)$36,845.003.11%
  • ethereumEthereum(ETH)$1,405.4614.92%
  • tetherTether(USDT)$1.00-0.40%
  • rippleXRP(XRP)$0.3021768.01%
  • cardanoCardano(ADA)$0.3762451.96%
  • litecoinLitecoin(LTC)$159.347.56%
  • bitcoin-cashBitcoin Cash(BCH)$529.789.01%
  • stellarStellar(XLM)$0.3089023.59%
  • moneroMonero(XMR)$158.974.00%
  • eosEOS(EOS)$2.873.98%
  • tronTRON(TRX)$0.0314491.58%
  • nemNEM(XEM)$0.24964010.35%
  • neoNEO(NEO)$27.470.93%
  • iotaIOTA(MIOTA)$0.4887113.77%
  • dashDash(DASH)$130.391.29%
  • ethereum-classicEthereum Classic(ETC)$8.036.24%