Bitcoin Closes on $11k as Two Technical Indicators Conflict

Bitcoin has been in a gradual uptrend for the reason that weekend. The quick time period image seems promising however a conflicting technical sign indicator on a long term chart might spell the tip of the upturn.

Bitcoin Nearly at $11,000

Just a few hours in the past throughout Asian buying and selling, BTC posted a weekly excessive of $10,950 in response to The value is again ultimately Tuesday’s resistance turned assist degree and up nearly 10 p.c for the reason that weekend dip. Within the hours that adopted there was a slight pullback to round $10,800 the place Bitcoin is presently buying and selling.

BTC worth 1 hour chart –

The one hour chart revealed a ‘golden cross’ has simply fashioned with the quick time period 50 hour shifting common crossing the long term 200 hour MA. It is a bullish development reversal sign for this timeframe and has come 9 days after the opposing sign on the down development. The subsequent degree of resistance…

Read full story