Bitcoin Could Soon Move Above $11,000
Analysts remain optimistic about Bitcoin’s prospects despite the recent weakness in the altcoin market. BTC in and of itself has slid around $200 from the daily highs while altcoins are dropping by over 10% across the board.
Referencing the chart below, which purportedly indicates that Bitcoin could soon hit $11,400, the analyst said:
Chart of BTC's price action over the past few weeks by crypto analyst CJ (@IrnCrypt on Twitter). Chart from TradingView.com
Others agree with the sentiment that Bitcoin will soon move towards $11,200. One trader shared the chart below, noting how the coin has caught a bid at the critical 100-period simple moving average, corroborating expectations of a move higher.
Chart of BTC's price action over the past week or so by crypto analyst DevChart (@Devchart on Twitter). Chart from TradingView.com
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Despite Altcoin Drop, This Analyst Thinks Bitcoin Is On Track for $11k
Originally from Bitcoinist.com https://ift.tt/2FKLUB1
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