The Bulls are ready to increase the price of Bitcoin
In the last analysis, we paid attention to the fact that big players can soon move Bitcoin higher but it will not be that easy in the end. Immediately after the publication of the analysis, the Bears tried to shoot down Bitcoin in order to break and overcome important support at $ 10K. Bitcoin fell under the pressure from the Bears on September 23, but the lowest price was only $ 10136 (binance) and the support remained intact.
The fact that the support managed several September attacks and was not broken means for a lot of traders greater certainty and probability of further growth. Bitcoin has been rising steadily since the September 23 dump, and it looks like the Bulls will soon try to raise and beat the $ 11K. Let’s also not forget that Bitcoin has been accompanied by great news lately and, for example, Israel wants to recognize Bitcoin as a currency, and this can also be one of the impulses for growth.
But let's look at a technical analysis:
Important Support at $ 10K
Daily RSI Looks Bullish
MACD Bullish
Current Resistance at $ 11.3K
Strong Resistance at $ 12K
The fact that the support managed several September attacks and was not broken means for a lot of traders greater certainty and probability of further growth. Bitcoin has been rising steadily since the September 23 dump, and it looks like the Bulls will soon try to raise and beat the $ 11K. Let’s also not forget that Bitcoin has been accompanied by great news lately and, for example, Israel wants to recognize Bitcoin as a currency, and this can also be one of the impulses for growth.
But let's look at a technical analysis:
Important Support at $ 10K
Daily RSI Looks Bullish
MACD Bullish
Current Resistance at $ 11.3K
Strong Resistance at $ 12K
