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Bitcoin Starts Vertical Rally To $11.5K and $12K: Uptrend Isn’t Over Yet

Bitcoin gained traction and recently climbed above the $10,000 mark against the US Dollar. BTC price is now in a strong uptrend and it could soon test $11,560 or $12,100.

 ▪ Bitcoin price is showing a lot of positive signs above the $9,500 resistance area.
 ▪ The bulls were able to push the price above $10,000, opening the doors for a larger rally.
 ▪ There was a break above a crucial bearish trend line with resistance near $9,000 on the daily chart of the BTC/USD pair (data feed from Kraken).
 ▪ The pair is likely to continue higher towards the $11,000, $11,560 and $12,100 levels in the near term.