The Bitcoin (BTC) market has been quite impressive lately. Until about July 20 the Bitcoin market was stagnant and trading in a narrow range between $9,000 and $9,200. Then the price of Bitcoin began to steadily rise, reaching $10,000 on July 27. $10,000 was a major long term resistance level, and once Bitcoin broke through, it rallied quickly to over $11,000. Then over the course of a few days Bitcoin rose to just over $12,000. In total Bitcoin increased 30% in less than 2 weeks. 

Then there was a sudden flash crash from $12,000 to $10,500, likely due to some selling pressure combined with a long squeeze, where long positions on derivatives exchanges like BitMEX are rapidly liquidated. 

Impressively, Bitcoin quickly rebounded to over $11,000, and is once again climbing towards $12,000. It seems Bitcoin has solid support at $11,000, which is quite a positive turn of events considering Bitcoin was having an impossible time breaking through $10,000 since September 2019. 

Now the market is watching and waiting to see if Bitcoin will be able to break through resistance at $12,000. Beyond that, the major resistance level to watch is $14,000, which is where the big rally during the summer of 2019 hits its peak. 

The exciting thing is that if Bitcoin gets past $14,000, all eyes will shift towards the ultimate long term resistance level and all-time high of $20,000. 

Overall, the fact that Bitcoin has strong support at $11,000 and is persistently climbing indicates that the long anticipated post-halving rally is beginning, and if history repeats itself, Bitcoin will hit all-time highs over the next year like it has done after every previous block halving. 

Only time will tell, but this seems to be an excellent time to be a Bitcoiner, and this may be only the beginning of a historic rally.