Bitcoin hits a wall under $10,600 as consolidation kicks above the short term $11,500 support. Chainlink bulls outperform, pulling the crypto to new all-time highs and displacing BCH from the fifth position. Bitcoin price has not been able to rise above short term barriers at $11,600. However, recovery from the levels slightly above $11,100 was steady. The largest cryptocurrency is holding above $11,500 and trading at $11,530 at the time of writing. Since the beginning of the week, the mission has been to sustain action beyond $12,000 but Bitcoin bulls lost balance giving way to the dive towards $11,000. While Bitcoin stalls within the range at $11,500 and $11,600, some selected altcoins are seen spiking massively, even clocking new all-time highs. Chainlink, for instance, continued with the upward push for gains towards $20. The crypto assets traded new all-time highs around $17 before retreating to confirm support at $16 as discussed earlier. Chainlink also rallied in terms of market share, toppling Bitcoin Cash to become the fifth-largest cryptocurrency. Other altcoins performing beyond expectations include Tezos which recently rose to highs of $4.4, Cosmos is up 15.18% in the last 24 hours while IOTA is trading 11.68% higher. Some DeFi projects are also doing well, take, for instance, Maker is up 14.78%. Bitcoin technical update The daily chart shows the price pivotal in a wide range between $11,000 and $12,000. Indicators such as the RSI and the MACD are moving sideways, in a way, confirming the possibility of consolidation taking place. Support at $11,500 remains key for the next phase of gains towards $12,000.Other support areas to keep in mind include $10,500, the main trendline (continuous line), the 50-day SMA at $10,000 and the 200-day SMA at $8,896. 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 USD/CAD consolidates near multi-month lows, below mid-1.3200s FX Street 2 years Bitcoin hits a wall under $10,600 as consolidation kicks above the short term $11,500 support. Chainlink bulls outperform, pulling the crypto to new all-time highs and displacing BCH from the fifth position. Bitcoin price has not been able to rise above short term barriers at $11,600. However, recovery from the levels slightly above $11,100 was steady. The largest cryptocurrency is holding above $11,500 and trading at $11,530 at the time of writing. Since the beginning of the week, the mission has been to sustain action beyond $12,000 but Bitcoin bulls lost balance giving way to the dive towards $11,000. While… Regulated 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.
