Bitcoin (BTC/USD) favored by the bullish price action

Bitcoin (BTC/USD) favored by the bullish price action

2019-11-11 • Updated

The optimism for Bitcoin is still latent in the financial markets and is that during the session of December 11, it reached new heights above the barrier of 17,000. Recall that the BTC/USD has been bouncing from the 200-hour moving average and this has helped it gain momentum in the short and medium term.

The resistance of 17,076 continues to be a major obstacle for the bulls and it is possible that news regarding the capitalization of cryptocurrency in the futures market in the United States continues to be the main driver of movements in the short term. During the first day of operations, the BTC remained bullish and above the 17,000 mark.

In a few minutes, the Bitcoin moved about 1,000 against the US dollar, which indicates that there is still caution regarding the interest of this cryptocurrency in the futures market. According to the capitalization shown by CoinMarketCap, the BTC has been showing gains among the top 10 of the main critics worldwide, making a total of $ 456 billion dollars.

What do we expect?

According to our projections on the H1 chart, the Parabolic SAR continues to support the bullish price action in the Bitcoin and it is possible that the rebound made on the 200-hour moving average is enough to reach the next Fibonacci target of -23.6% in 19,114.29. On the downside, we have a strong support in the psychological barrier of 15,000. The RSI remains in positive territory, favoring the bullish scenario for the short term.

BTCUSDH1.png

Similar

Trade Ideas on September  6-10
Trade Ideas on September 6-10

Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera