Bitcoin (BTC) can still top $ 13,000 and moreas a series of “no events” leaves the cops still in a position of power. According to Coinmarketcap, Bitcoin’s market cap is currently $ 211,008,419,031.
Data from Coin360 and Cointelegraph Markets showed BTC / USD surged towards $ 11,500 on August 28As one analyst said, the level is crucial to regain profits and keep going.
Daily cryptocurrency market chart, August 28th. Source: Coin360
BTC price: closing price at $ 11,500 extended “Bullish Reaccumulation”
In an update to subscribers to its Telegram trading channel on Friday, filbfilb said so Despite the previous day’s volatility, BTC stayed a long time.
“In the context of the weekly chart, $ 11,000 appears to be considered support, but a close above the main support / resistance level of $ 11,500 would be the immediate target. to be relatively comfortable with the general idea of bullish reintegration, “he summarized.
This concept has some outstanding goals, the monthly pivot around USD 12,925as well as the monthly resistance from 2019, with Bitcoin hitting $ 13,870.
However, the signs were positive; filbfilb dismissed concerns over the Federal Reserve’s inflation speech and other pseudo-dark signals for Bitcoin.
“I was long yesterday for several main reasons.”he explained.
“Negative futures premium, no lower lows, real panic (on Twitter) and calls at 9,000, no general support breakout and because the gold and silver price action, with which we are strongly correlated, was invested before BTC continued dumping. “
The speech itself described it as a “non-event”what looked like it was already fixed by the markets.