Analyst: Keep the Bitcoin price level of $11.700 in the eye

The Bitcoin price has moved pretty much sideways since he has exceeded in June, the psychological $10,000 a brand. The well-known crypto-COP and Analyst Josh Rager called for in this month a critical resistance level for BTC.
Bitcoin could recorded new all-time highs, when this “includes over-the-11.700 $ Launchpad-Level”.

Bitcoin price-Range bound since the $10,000 mark

In June it was that time again in the Bitcoin after a one-year break in the five-digit range returned. The rally was virtually unstoppable and ended with BTC exceeded the 13,000 $-brand.

Bitcoin closes above $ 11.700?

In the last Tweet that was published today, reminded Josh of his already-mentioned comment from June on the price action of Bitcoin. He seemed to have at the time, casual the critical resistance of 11,700 dollars for BTC called. Coincidentally, the weekly price action has remained under this level, while the Bitcoin market was since then sideways.

What he means is that the almost flat price action this quarter will come to a standstill, as soon as Bitcoin has exceeded the 11.700 $ brand. Once this level has been reached, so Josh, there would be no more and more all-time highs could be recorded.

Bitcoin price rally like in 2017?

As the London-based market analysis company Skew Markets stressed, the quarterly run of BTC in the year 2019 in the bull market of 2017.
Also worth noting is the ROI of Bitcoin in the second quarter. With of 161.5 percent in BTC recorded in the second quarter of 2019, the highest yields in a five-year period.

Hashrate at the highest level

As previously reported, is preparing the world’s leading crypto-currency, the 100-quintillion-Hash-Rate brand to break through, although the Bitcoin exchange rate to move sideways and is traded. According to Bitcoin-COP Max Keiser this is generally a bullish indicator for the BTC price.
Text evidence: bitcoinis, Himadri Saha

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.