Bitcoin Breaks $11K
Finally! Got some action going on! Bitcoin price is currently @ $11055
Bitcoin price breaks $11K, crypto traders optimistic about BTC’s action
“In the medium term, traders foresee $13,000 as the main hurdle before Bitcoin sees a prolonged rally. According to the pseudonymous trader known as “Salsa Tekila,” previous macro price trends indicate $13,000 is the roadblock to an all-time high. If BTC continues to stabilize and consolidate above key support levels, the trader said a rally to a new record-high could occur in the longer term.
Whether Bitcoin can stay above $10,500 and eventually break out at $11,000 to test $13,000 remains the biggest challenge. Between the first five days of October, various negative macro factors slowed the momentum of BTC. Since then, particularly following Square’s high-profile investment into Bitcoin, the top cryptocurrency has recovered. In the fourth quarter, the bullish scenario hinges on BTC’s strength above $10,500 and whether it can surge past $11,000.”