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Bitcoin Technical Analysis: BTC/USD trying to use Ethereum’s momentum to climb above $10,000

  • Ethereum is clearly leading the crypto market while Bitcoin remains behind.
  • BTC/USD did see a nice pump towards $9,660 after ETH’s initial breakout.
Bitcoin Technical Analysis: BTC/USD trying to use Ethereum’s momentum to climb above $10,000
Lorenzo StroeLorenzo StroeIndependent Analyst

We all know Bitcoin has been trading sideways for the past three months. Ethereum was stronger but also trading sideways until a few days ago when bulls managed to create a massive breakout above $250. Bitcoin also had a decent breakout, however, the most important resistance level at $10,000 remains untouched. 

While this small price boost was great for Bitcoin, it doesn’t really change much in the long-term. 

BTC/USD 1-hour chart

BTCUSD

Bitcoin is clearly trading inside an uptrend and has been defending both EMAs many times in a row. The most important resistance level is $9,682, of course, followed by $10,000. 

BTC/USD daily chart

btcusd

Bitcoin is now in a daily uptrend again but that has happened a few times before. Perhaps the most notable change is the bullish cross of both EMA’s, however, this also happened on June 21 and didn’t help Bitcoin.

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.

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