Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside

Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside


Bitcoin price climbed further higher above the $11,000 resistance against the US Dollar. BTC is currently correcting gains, but dips are likely to remain supported near $10,800.

Bitcoin extended its upward move above the $10,900 and $11,000 resistance levels. The price is now forming a strong support above $10,800 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $10,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to resume its upside as long as it is above $10,800 and the 100 hourly SMA. Bitcoin Price is Showing Positive Signs

After a successful close above the $10,800 level, bitcoin price extended its rise against the US Dollar. BTC broke the key $11,000 resistance level and settled well above the 100 hourly simple moving average.

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The price traded to a new weekly high at $11,102 and recently started a downside correction. It traded below

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