BITCOIN BULLS HITS $11,200 by E. Okorie, 30th of July , 2020
On wednesday, the price of bitcoin appreciated in value to hit the $11,200 mark. Bitcoin bulls had total dominance over the market and gained over $1,000 from monday opening price and closed above the 11,000 mark. This is a huge relieve to investors owning various minig farms due to the rise in difficulty in obtaining a new block in the blockchain. The bullish market now target $11,800. The major resistance and support levels are $11,300, $11,800, $12,248, $13,100 and $10,800, $10,000 and $8,100.
It should be noted that the bearish market still have a lifeline here as the bitcoin price finds another stong support level. Even though the bullish market currently "pulls all strings" a downward break below the $10,000 will neutralise the bullish market. The $8,100 benchmark is undoubtedly now a key support level and a would trigger a bearish sentiments.