Bitcoin Technical Analysis: BTC/USD is stable but an explosive move towards $13,000 could happen at any moment


  • Bitcoin continues trading around $11,500 while defending the daily 12-EMA.
  • Bulls are happy to see indicators cooling off while maintaining the same price.

Bitcoin is currently trading at $11,500 seeing a significant decrease in trading volume and losing a lot of market dominance due to altcoins posting huge gains. 

BTC/USD daily chart

BTCUSD

Bulls have defended the 12-EMA at $11,436 for the past two days and are looking for a bounce towards $12,000. The current daily uptrend is still intact and the last week of consolidation has been actually positive for Bitcoin as it cooled off several indicators.

BTC/USD 4-hour chart

btcusd

Bitcoin is just picking up momentum on the 4-hour chart but has been rejected from the 12-EMA and the 26-EMA. The 4-hour downtrend will prevail unless the bulls can climb above $12,100 or set a lower high followed by a higher low and then break the last high.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Biden's win of the US presidential election could have different effects on Bitcoin and DeFi

The presidential elections in the United States are just around the corner. While it is still hard to tell for sure who will secure the place in an Oval Cabinet, the most recent poll results show that Joe Biden, the Democratic presidential nominee, is leading the race. 

More Cryptocurrencies News

XTZ aiming for a 10% price jump if key support is defended

The past week for Tezos hasn’t been great, the digital asset lost around $300 million in market capitalization as Bitcoin continues gaining dominance over the market.

More Tezos News

TRX ready for a major price explosion according to indicators

Tron has been trading inside a tight range from $0.028 to $0.0239 for the past three weeks without a clear direction. Several indicators show that TRX is on the verge of a massive breakout, but in which direction?

More Tron News

Bitcoin leads the pack aiming for new yearly highs

The cryptocurrency market is slugging in recovery, accept for Bitcoin. Intense pressure continues to build on critical levels for major cryptocurrencies. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin: BTC ready to escape from the range; bulls have $12,000 in mind

Bitcoin has been gaining ground amid positive fundamental developments. The flagship cryptocurrency is ready to break free from its current range and proceed with the recovery towards $12,000. 

Read the weekly forecast

BTC

ETH

XRP