Cryptocurrency Market News: Bitcoin climbs above $11,000 signaling a bullish reversal

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Here is what you need to know on Thursday 17, September

BTC/USD is currently trading right above $11,000 after a notable breakout. A close above this crucial resistance level could be an indication that Bitcoin bulls are ready to take over again.

ETH/USD is not following Bitcoin this time and it’s not the leader anymore. The digital asset continues trading at $365 unable to climb above $400.

XRP/USD had a dip towards $0.234, the 100-MA and the bulls managed to defend it pushing the price of XRP above 0.24 again.

Chart of the day: BTC/USD daily chart

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Bitcoin price climbed above the crucial $11,000 resistance level and has been bullish for the past three days. This breakout is a major indicator that momentum is shifting in favor of the bulls, at least in the short-term. The next barrier would be at $11,267, the current 50-MA, but BTC is not facing a lot of resistance above that level. 

The IOMAP chart shows the next resistance cluster to be at around $11,663 and $11,770 but almost no resistance above or close to $12,000. When it comes to support, it seems that Bitcoin has a ton of support compared to the resistance with the nearest level at $10,784. 

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