Bitcoin price finally breaks $11K as traders assess BTC’s next move

The contrasting performances between Bitcoin and the rest of the market make the ongoing BTC rally unique. Denis Vinokourov, head of research for digital asset exchange and brokerage firm Bequant, told Cointelegraph: Nonetheless, after the breakout of Bitcoin above $10,500, a level that has acted as a strong resistance, the sentiment of traders is mixed.

The bullish case for Bitcoin in the short term is a retest of the $11,000 resistance level without a steep rejection. On Sept. 8, before the current Bitcoin price rally commenced, a crypto trader known as “Edward Morra” said there are two short-term CME gaps of $10,620 and $9,600 left, but which one will get filled first is uncertain.

Timeline of Bitcoin