Bitcoin Price Analysis: BTC/USD spikes to $11,600 and drops to $11,340 within one hour


  • It seems that some positive news from the Federal Reserve made Bitcoin jump to $11,600 within one hour.
  • The move didn’t last for longer than a few minutes and Bitcoin is down again at almost its initial price.

Bitcoin price is currently around $11,360 after a failed attempt by the bulls to climb above $11,600 following some positive comments from Jerome Powell

BTC/USD 15-minute chart

BTCUSD

We can clearly see the first three green candlesticks moving Bitcoin towards $11,600 and the next three giving all the gains back and even droppìng lower. The overall sentiment of Bitcoin continues being positive despite the recent downtrend.

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