Bitcoin (BTC) Remains Stubborn And Keeps Hovering Around $11,800

Bitcoin remains stable, and BTC price hovers around $11,800. The coin maintains the oscillation in the range of $11,600 to $11,950 (below $12,000). Nevertheless, the coin has even traded past $12,000 many times in the past week but could not persistently maintain the momentum. Bitcoin is expected to have an effective price rally soon that will lead the coin to trade at the psychological aim of the year, i.e., $15,000.

The current price trend shows the stable movement of the coin at present.

bit

BTC to USD Price Chart:

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView

BTC to USD Price Comparison:

Bitcoin is currently trading at $11,848.80 as on 10th August at 6:32 UTC. As observed from the above 1-day chart, we see that the coin has been trading between the highest price mark $11,969.38 and the lowest price mark $11,652.85 in the said time duration. Whereas, if we observe closely the price of the coin has been sliding since 00:30 UTC, yesterday which took the coin to the bottom price of $11,652.85. Gradually, it gained the required pace and started its upward journey, and at the onset of today, i.e. 10th August, BTC price topped at $11,969.38 in the early hours of the day. The current trading price is 1.00% lower and 1.68% more than the respective highest and the lowest price in the said time frame.

Technical Indicators and BTC Price Prediction:

The coin is rightly trading above its 50-day SMA of $10,944.98. The current trading price is 8.25% more than its 50-day SMA.

The MACD of the coin recently slid in the negative area, but with a bullish outlook as the MACD line crosses the signal line and is attempting to move in the positive zone.

The RSI of the coin is near its overbought region.

With the current momentum, Bitcoin is expected to have a persistent trade beyond $12,000 which will help the coin to achieve the target of trading around $15,000 to $20,000 by the end of the year.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

Related Articles

Back to top button