Prices now - market analysis: Bitcoin breaks the $ 11 thousand barrier

The volume of current #bitcoin trading is about half the volume it achieved last December, as it was a big rally. Some believe that this decline in volume is a sign of weakness of the market, while others disagree, as the rise in price leads automatically to increase the volume of investment in the currency and the entry of new investors, which automatically lead to a significant increase in volume.

Yesterday, the price of the #bitcoin broke the $ 11,000 barrier and continued to move up slowly but surely, supported by the moving averages that are helping it upwards, breaking a descending channel that has been stuck in it and forming a new bullish channel where we expect to continue rising in the short term until the $ 12,750 barrier , Where a strong resistance zone is waiting for him, if he succeeds in breaking it he will reach the limit of $ 16,500.

On the other hand, the #etherium is struggling to break the exponential moving average for the last 20 days, and has not succeeded in doing so until now despite the remarkable rise it has achieved. The first signs of improvement will appear when the #etherium breaks the $ 700 barrier, but it will only gain momentum if it manages to break above the $ 950 barrier and stay above it for a while.