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Bitcoin price prediction: One more hurdle and BTC/USD rallies above $11,600 – Confluence Detector

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Bitcoin price prediction: One more hurdle and BTC/USD rallies above $11,600 – Confluence Detector

  • The long-awaited ICE-backed exchange Bakkt has opened its custody service, Bakkt Warehouse.
  • Bitcoin price hovers above $10,000 although upside movement is extremely limited.
  • Bitcoin is expected to sharply correct upward following a break above the main resistance at $10436.

The cryptocurrency market is mixed red and green. Bitcoin is struggling to correct the negative retracement on the day after sliding 0.54%. Ethereum and Ripple are slightly bullish posting minor gains on the day. The selected crypto assets leading the recovery on Tuesday is Litecoin which is up 2%.

The long-awaited ICE-backed exchange Bakkt has opened its custody service, Bakkt Warehouse in readiness for Bitcoin futures. The announcement made on Monday via Twitter said that “Bitcoin deposited at our Warehouse is protected by a $125 million insurance policy.” The exchange is set go live with physically settled Bitcoin futures on September 23

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