Bitcoin recovered from an intraday low of 10977

31.07.2020 16:50
Bitcoin (BTC) resumed its recovery and climbed to an intraday high of 11,168 on Friday. The first digital asset stabilized above the key $ 11,000 level, while the us dollar fell to its lowest level since may 2018 after the Federal reserve announced its decision to keep the interest rate near zero and made bearish comments about the economic recovery. The us dollar will continue to weaken in the coming weeks. Cryptocurrency experts believe that Bitcoin will benefit from the current situation and begin to gain momentum.
Such price increases can have a snowball effect that affects more newcomers entering the market and many existing participants who continue to hold or buy more.
BTC / USD recovered from an intraday low of $ 10,977 and extended the recovery to $ 11,200. The coin has risen almost 2% in the past 24 hours, but further recovery may be limited by local resistance created by the upper line of the 1-hour Bollinger band at $ 11,200. Once it is passed, the growth potential is likely to gain momentum, focusing on the latest recovery high of $ 11,414, and then $ 11,500. On the other hand, the initial support is created by the psychological urvonem of 11,000 dollars. A sustained move below that barrier can stay for up to 10 800 $ 10 and $ 500.

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