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Bitcoin Technical Analysis: BTC/USD slides below $12,000, no bearish continuation

  • Once again Bitcoin is facing some problems at $12,000.
  • After touching $12,468, the digital asset got rejected again and it’s currently trading below $12K.
Bitcoin Technical Analysis: BTC/USD slides below $12,000, no bearish continuation
Lorenzo StroeLorenzo StroeIndependent Analyst

Bitcoin is trading at $11,934 after a significant rejection from $12,387 dropping 3% within minutes. Bears haven’t gotten a lot of continuation just yet as Bitcoin is seeing some support from the daily 12-EMA at $11,763.

BTC/USD daily chart

BTCUSD

Bitcoin bulls are hoping to defend the daily 12-EMA and to bounce back up above $12,000. They need to see a strong move and continuation after the crucial resistance level to be confident in the short-term. The last low of the daily uptrend is $11,110, which could act as a support level. 

The daily RSI has cooled off notably, while the MACD remains in bearish mode.

Author

Lorenzo Stroe

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.

More from Lorenzo Stroe
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