The significance of a higher high cannot be understated following the higher low set on Black Thursday. The two notable price swings make up the definition of an uptrend, essentially confirming that the crypto asset has broken out into a new bull market.
At this point in a now confirmed uptrend, any dips are likely to be bought by bullish investors will ferocity. Logical points where a retest might occur would lie around $11,500, which acted as the lift-off point when Bitcoin blasted through following news Square Inc. had purchased BTC.
Bullish news kept the crypto asset climbing, but the election was even too much for Bitcoin to shake off unscathed.
Featured image from Deposit Photos, Charts from TradingView.com