Bitcoin gained traction following a two-day consolidation on Saturday. RSI on the daily chart turned north above 50. A daily close above $11,200 could open the door for additional gains. After staying relatively quiet near $11,00 on Thursday and Friday, Bitcoin (BTC/USD) gained traction and touched its highest level since September 3rd at $11,180. As of writing, Bitcoin was up 1.3% on a daily basis at $11,080. Bitcoin technical outlook On the upside, $11,200 (Fibonacci 38.2% retracement of July 21-August 18 uptrend) aligns as a critical hurdle for Bitcoin. With a daily close above that level, BTC/USD could target $11,700 (Fibonacci 23.6% retracement) and $12,000 (psychological level). Meanwhile, the Relative Strength Index (RSI) on the daily chart started to push higher above 50, suggesting that the bullish momentum is gathering strength. Supports, on the other hand, are located at $10,800 (Fibonacci 50% retracement), $10,400 (100-day SMA/Fibonacci 61.8% retracement) and $10,000 (psychological level). BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Bitcoin Price Analysis: BTC/USD erases Saturday’s gains, returns to $11,000 area FX Street 1 year Bitcoin gained traction following a two-day consolidation on Saturday. RSI on the daily chart turned north above 50. A daily close above $11,200 could open the door for additional gains. After staying relatively quiet near $11,00 on Thursday and Friday, Bitcoin (BTC/USD) gained traction and touched its highest level since September 3rd at $11,180. As of writing, Bitcoin was up 1.3% on a daily basis at $11,080. Bitcoin technical outlook On the upside, $11,200 (Fibonacci 38.2% retracement of July 21-August 18 uptrend) aligns as a critical hurdle for Bitcoin. With a daily close above that level, BTC/USD could target $11,700 (Fibonacci 23.6%… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
