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Bitcoin Price Posts Strong Weekly, Monthly Closes — Traders Eye $11.9K

“Bitcoin price bounced off this point on Oct. 31 and on Oct. 26 and drops to $9,000 have been well defended by bulls” writes Horus Hughes for It’s possible that Bitcoin price could drop to the bottom Bollinger Band arm at $9,080, which is also a frequently tested support.The Bollinger Bands indicator shows that above the 20-WMA, Bitcoin price could extend to $11,890, whereas a strong downside break could push prices as low as $7,768.On Monday, Bitcoin bulls continued to push the price higher as the digital asset crossed above the $9,400 and $9,550 resistance levels to set a lower high slightly above $9,600.Both the weekly and daily time frames show Bitcoin notching successive higher lows and the price is well supported by the 200-daily moving average (DMA).

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