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Bull Return? Bitcoin Eyes $11K After Upside Break
As bullish indicators strengthen, bitcoin now looks set to extend gains to $11,000 or higher, chart analysis indicates.
Yazan Omkar Godbole
As bullish indicators strengthen, bitcoin now looks set to extend gains to $11,000 or higher, chart analysis indicates.
Having defended $9,300 over the weekend amid low volumes, the cryptocurrency picked up bids and rose to a high of $10,443 yesterday, according to CoinDesk's Bitcoin Price Index (BPI). The uptick was backed by a 28 percent rise in trading volumes, as per CoinMarketCap.
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A high volume break above key psychological resistance indicates strong hands are at play, so it's not surprising that the price is on the up. As of writing, bitcoin is trading at $10,707, having clocked a session high of $10,714.47 earlier today.
Activity in the individual markets reveals that investors continue to use tether to accumulate bitcoins. Trading volume in BTC/USDT (bitcoin-tether exchange rate) on OKEx has gone up by 6.96 percent in the last 24 hours. Meanwhile, U.S. dollar trading volume on Bitfinex (BTC/USD) has increased by 6.61 percent.
The cryptocurrency is up 14 percent from the lows seen over the weekend and has gained almost 12 percent in the last 24 hours, according to CoinMarketCap.
Looking ahead, the cryptocurrency looks set to extend gains to the 10-week moving average (MA) of $11,385 in the next 24 hours.
1-hour chart
The above chart (prices as per Bitfinex) shows:
- Bullish continuation pattern: the upside break of the sideways channel signals continuation of the rally from the low of $9,280 seen over the weekend. Further, the upside break is backed by an uptick in volumes. So, BTC could extend the rally to $11,000, according to measured height method.
- The relative strength index (RSI) shows overbought conditions, thus BTC may consolidate over the next couple of hours before extending the rally.
Daily chart
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- Bitcoin looks set to test $11,000 today and could extend gains to $11,385 (weekly 10-MA). A violation there would shift attention to key resistance levels: the inverse head-and-shoulders neckline and the descending trendline.
- A daily close above the descending trendline would allow for a stronger rally to $17,400 (inverse head and shoulders breakout target as per the measured height method).
- Bearish scenario: Rejection at the weekly 10-MA, followed by a quick drop below $9,280 (Feb. 25 low) would add credence to the bearish weekly RSI and trigger a sell-off to $8,000–$7,800.
Chalkboard image via Shutterstock
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Lebih untuk Anda
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
Yang perlu diketahui:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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