Bitcoin Price Above $10,500 on US Futures Charts

The waiting time for regulated bitcoin futures is over (in the US at least) and markets are starting to react more strongly to the news.. For this reason, the bitcoin price is hovering above the $10,500 mark on the US futures charts.

According to data from CoinMarketCap, the value of bitcoin increased this morning by the United States Commodity Futures Trading Commission (CFCT). It rose to over $10,500 after news that the CBOE approved the list of 3 products from CBOE, CME Group and Cantor Fitzgerald. added a rate of 3.9 percent to news providing news.

The table above shows:

• Declining trendline , has been violated.
• A high-low pattern has been formed.
• The relative strength index is trending upwards (above 50.00) and rising.

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It seems that bitcoin can reach the level of 11,000 dollars again with this rise. However, longer-term charts will yield more robust analysis, as discussed here.

It’s also possible that this uptrend has already been designed and tuned.. (CME Group announced its plans to list BTC Futures on Nov.. After this event, BTC appreciated around 69 percent)

Bitcoin’s resurgence by rising to a level above $11,300 is possible, as institutional capital changes its direction in the market and returns to bitcoin.

Opinion. :

• Although the 1-hour chart is in the opposite direction, it is recommended to be careful about the good news impacting the prices.
• As stated here, the bitcoin value of $10,850 reached in 1 hour,
• Furthermore, trading as a risk to the principle of “Trade according to the truth” (the CME’s rumored bitcoin could be sold and profited upon confirmation of the rumor) cannot be ruled out.

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