Bitcoin price began highly bullish Monday after a massive bear market. BTC price experienced a gain of $1,200 over the weekend. Following the Kingcoin major are also showing bullish sentiments. Monero being the second leading coin with more than 6% gains followed by Dash, Ethereum, Bitcoin SV and Bitcoin Cash with more than 4% spike.
In the past two days, there was a steady rise above $10,500 in bitcoin price above $10,000 against the US Dollar. The BTC/USD pair settled above the $11,000 resistance.
According to coinmarketcap, Bitcoin is trading at $11,727.02 with more than 9% growth. Bitcoin is holding market cap value of $209,431,150,897 with $209,431,150,897 24-hour volume and 17,858,862 BTC circulating supply.
Bitcoin price is showing a lot of positive signs above the $11,200 and $11,500 levels. The price action suggests that there could be a short term downside correction before more gains above the $11,650 level. At present, the major Support Levels is at $11,450 followed by $11,200. And Major Resistance Levels is at $11,650, $11,800 and $12,000.
As per 1-hr time Frame, the MACD is placed heavily in the bullish zone. And RSI for BTC/USD is currently correcting lower from the overbought zone.
BTC is Waking up says John McAfee
From the past few days, all eyes have been turned to Bitcoin, whose market dominance has steadily increased. Meanwhile, popular faces of the cryptocurrency community, are more optimistic towards the Bitcoin Price future.
One of the well-known Crypto influencer John McAfee pointed out the recent controversial tweet by US President Donald Trump who claimed Bitcoin as thin air. John responded by saying that, “The “Thin Air”, as @realDonaldTrump calls Bitcoin, appears to have energy based on some real substance”.
According to John “BTC waking up again. Up and down but long term steady growth is apparent”
On the other hand, one of the well-known trader Josh Rager commented on Monday about the pairs short-term prospects “The next overhead resistance on the weekly chart is $11,469,” he further added, “Very bullish if price breaks and closes above this level over the next week.”