Analyst Who Called Bitcoin’s 2018 Bottom Thinks $11,500 Is Next

Analyst Who Called Bitcoin’s 2018 Bottom Thinks $11,500 Is Next

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.

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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.

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