Bitcoin has pressed higher after consolidating between $10,000 and $10,500 for five days. The leading crypto asset now trades for $10,550 as of the time of this article’s writing. BTC is far from in the clear due to this being a weekend move. Still, analysts are confident that Bitcoin moves towards $11,000 and beyond in the near future. This may be reversed if legacy markets open red during the Sunday evening futures open. Bitcoin Could Soon Move Towards $11,500
Bitcoin is pressing higher after consolidating within a $500 price range for almost a week. As reported by Bitcoinist, just hours ago, the leading cryptocurrency broke above the pivotal $10,500 resistance, liquidating millions in the process.
Analysts think that Bitcoin is primed to move higher despite this move being so nascent.
On the ongoing move higher, one historically accurate trader remarked in reference to the chart below:
“looks to me like a lower timeframe ascending triangle breakout on $btc.