The Bitcoin (BTC) price finally managed to break the symmetrical triangle on Friday as the price has fallen over the last 30 days. After holding the $ 11,000 level at the end of the day, the price increased to $ 11,448 on a few large volumes.

On October 8, Cointelegraph shareholder Michael Van de Pope explained what he thought was like this:

“If the price of bitcoin breaks the resistance zone of $ 11,100-11,300, then we can expect further growth to $ 12,000. This makes the $ 11,100-11,300 area a critical continuation area. ”

The price currently holds above $ 11,400 and meets resistance at $ 11,489, the highest of the lights on September 3, when BTC fell 13% to $ 9,960. This level corresponds to the VPVR node, which ranges from $ 11,400 to $ 11,740, but if the Bulls can overcome this resistance combination, the other will work with the $ 12K mark on the cards.

On the daily time frame, the RSI rose to 65, which is a bullish signal, while the MACD chart clearly reflects the current rally in motion.

As always, day traders should keep an eye on the volume, as the lack of it in the last 30 days is the main reason why the Bitcoin price is stable The Bitcoin (BTC) price finally managed to break the symmetrical triangle on Friday as the price has fallen over the last 30 days. After holding the $ 11,000 level at the end of the day, the price increased to $ 11,448 on a few large volumes.

On October 8, Cointelegraph shareholder Michael Van de Pope explained what he thought was like this:

“If the price of bitcoin breaks the resistance zone of $ 11,100-11,300, then we can expect further growth to $ 12,000. This makes the $ 11,100-11,300 area a critical continuation area. ”

The price currently holds above $ 11,400 and meets resistance at $ 11,489, the highest of the lights on September 3, when BTC fell 13% to $ 9,960. This level corresponds to the VPVR node, which ranges from $ 11,400 to $ 11,740, but if the Bulls can overcome this resistance combination, the other will work with the $ 12K mark on the cards.

On the daily time frame, the RSI rose to 65, which is a bullish signal, while the MACD chart clearly reflects the current rally in motion.

As always, day traders should keep an eye on the volume, as the lack of it in the last 30 days is the main reason why the Bitcoin price is stable and below $ 11,000.

The ETH price also took a bullish turn, breaking the big downward line and rising 3.08% to $ 378.

At the time of writing above, the alt currency is facing resistance at $ 375 as it is a large VPVR node ranging between $ 376 and $ 389. If the bulls can maintain current momentum and break through this resistance range, Ether can reach $ 419.

As BTC and Ether grew, most altcoins followed with double-digit returns. Cardano (ADA) increased by 10.19%, Chenlink (LINK) increased by 11.4%, and Aave (LEND) increased by 15%.

According to CoinMarketCap, the total market value of cryptocurrency is currently $ 361.5 billion dollars, and the Bitcoin Dominance Index is currently 58.4%.
The ETH price also took a bullish turn, breaking the big downward line and rising 3.08% to $ 378.

At the time of writing above, the alt currency is facing resistance at $ 375 as it is a large VPVR node ranging between $ 376 and $ 389. If the bulls can maintain current momentum and break through this resistance range, Ether can reach $ 419.

As BTC and Ether grew, most altcoins followed with double-digit returns. Cardano (ADA) increased by 10.19%, Chenlink (LINK) increased by 11.4%, and Aave (LEND) increased by 15%.

According to CoinMarketCap, the total market value of cryptocurrency is currently $ 361.5 billion dollars, and the Bitcoin Dominance Index is currently 58.4%.

Source: CoinTelegraph

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