Bitcoin is surging despite weakness in the altcoin market. Since bottoming at $9,800 last week, the coin has gained $1,000 and over 10% as its price has reached $10,850 as of this article’s writing. Earlier today, the coin traded as high as $10,900 as buyers stepped in, seemingly responding to MicroStrategy purchasing over 10,000 coins.
The leading cryptocurrency’s rally may soon end, though.
Analysts in the space are currently eyeing $11,000-11,200 as a potential region where Bitcoin’s ongoing move higher will come to a stop.
This does not take away from the long-term fundamentals of BTC, which most respected commentators remain in a positive state.
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Bitcoin’s uptrend could stall in the $11,000-11,200 range, analysts have said in response to recent price action.
One market commentator shared the chart below on September 15th. It shows that BTC’s price action seems structurally