Bitcoin Technical Analysis: BTC/USD is on the verge of a massive breakout towards $10,000 or $8,000
- BTC/USD continues trading sideways without a clear direction.
- Bitcoin price is at $9,155 while the trading volume continues declining every day.
Bitcoin has already lost a significant portion of its dominance against other altcoins. After trading sideways for such a long time, many coins are taking advantage of the situation to create massive rallies.
BTC/USD daily chart
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Bitcoin is still below the daily 12-EMA but the bears are not getting any significant continuation moves. To resume its slight bullish trend, buyers would need to climb above both EMAs first.
It’s important to note that cryptocurrencies that trade sideways with decreasing trading volume are always getting closer to a massive breakout. While it’s unclear in which direction Bitcoin will go next, the last three to four months have been generally bullish for the entire market.
BTC/USD technical levels
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
