[ Bitcoin ] The Bitcoin Bulls getting resistance at $11775
Today we saw a run up to $11597 on Bitstamp and then some profit taking. The price right now is $11438. The key resistance is still about $11700 to $11800.
On 21 Feb was the last time we saw $11710 on Bitstamp and then fell back to about $9344. This was good consolidation, but I would like to see us break $11710 to make higher highs to continue our bull run from $6000.
We have seen a great run from $6000 to $11700. That is almost a 100% up move. Some people saying bitcoin trading is slowing down, but that move proves them wrong. We just need to more patient and wait for the right opportunity.
Dan from the Chart Guys giving more details about the Bitcoin resistance levels at $11775:
What do you think of the current bitcoin price? Are we seeing a double top forming?
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Do you think we are seeing a double top forming or do you think we will break $11750 this week?
Lets break $11775 this week @lizette
Thank you for the update!
I think there will be a nice move up over the next 10-12 days before G20. During G20 I believe some downward movement due to FUD with media sensationalizing comments from central banks, however that will pass over time and BTC should continue it's ascension to 20k.
Disclaimer: Not financial advice, just my personal opinion. Please do your own research
Thats amazing. 😊
Yes it is @atiqur :)
I think that a stable BTC price would be more value, than a fluctuating price range. We are in a raise of a new technology era. Cheers!
I agree with you @ger.investor
hey,
interesting post you have here. I saw that you are into cloudmining. You really think that it outpreformes just buying bitcoin or whatever coins you like? I baught a small contract at hashflare last year and i personally am not very impressed by the turnout. On top of that i am somewhat scared about the taxes for income coming from cloudmining (i am living in germany this might not be a problem for you ). None the less do you still invest in your contracts or what are you future plans?
I have not bought new contracts in the last month or so. I am still getting paid everyday from Genesis Mining. USI Tech is remodelling the returns and rebuilding the website dashboard will be ready soon for withdrawals. Mining vs Holding, it depends if you are a holder or a trader and when you bought. If you are a trader and get your timing 100% you will make more with trading. Like buying at 6000 and selling today on 100% return. Or you can buy mining at any price and earn every day no matter what bitcoin price is doing @damp. What are your future plans?
Breaking this resistance is still a hard one because people are still confused about the act of Bitcoin whether it will break out or break down. If we see any fomo than we will get more volume which will be helpful for break out.
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