Price Analysis

Bitcoin (BTC) Trades Below $12,000, Just To Rise Again And Breach $15,000 Soon

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  • Bitcoin breaches $12,000 in the past 24- hours.
  • BTC surges again after its price correction phase.

Bitcoin (BTC) has been trading miraculously in the market since the past 5 days as it took no time to cross $11,000 and $12,000 price mark after breaching the major support areas at $10,300, $10,500 and $10,800 –  As per the coinlib.io. BTC has always been known for its surprise giving feature, and this exponential surge will surely lead the coin to attain the next big target at $15,000. However, the coin needs to constantly trade above $12,000 in order to have an effective price rally.

BTC to USD Price Chart:

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView

BTC to USD Price Comparison:

Bitcoin is currently trading at $11,930.00, after having a price correction phase near $11,300 it is again on its bullish stride. As observed from the above 1-day chart, we see that the intraday movement of the coin is quite positive to have an effective Bull-Run. Inevitable to note that BTC has traded above $12,000 in the past 24 hours. The current trading price is 4.65% more than the lowest price mark observed in the said time frame. The market cap is also notably increasing to near $215 billion.

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Technical Indicators and BTC Price Prediction:

The price is trading well above its 30-day SMA and 30-day EMA of $10,568.70 and $10,672.45 respectively.

The MACD is currently having a negative outlook due to the recent price pullback that happened in the past 24 hours after having traded beyond $12,000.

The RSI of the coin is well above 60 and exhibits no extremities at present.

The coin is likely to face major resistance at $12,000 and $12,200, and the support area will be around $11,500 and $11,300 price marks.

If the coin continues to trade with the current momentum for the rest of the year, it is expected that Bitcoin will trade around $15,000 to $20,000 by the end of 2019. Even, many of the investors predicted booming Bitcoin prices. If you are thinking of trade-in Bitcoin, then, check Bitcoin Compass – An automated trading platform. To know more, Please go through the Bitcoin Compass Review.

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.

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