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Price Analysis

Bitcoin Price Analysis: BTC Holds Above its Key Support, Consolidating Around $11500

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  • Bitcoin manifests a bit optimistic price path over the last 4 hours
  • BTC increases to 2.92% in the last 4 hours
  • MACD shows a lack of volatility, while RSI indicates stability

In the last 24 hours, Bitcoin has witnessed a massive loss of gains as the coin has lost its price position from above $12000. BTC is currently holding above $11500, meanwhile, it has impacted other cryptos, especially, XRP which is pretty bearish and is below its quite a few major support levels.

However, BTC 4-hourly chart contradicts a bit from its 24-hour price scenario. Bitcoin price appears to be tracing an upward price trend as its price in the given time span has surged from its price near $11400 to its price above $11700. 

Bitcoin Current Statistics:

At 10:11:56 UTC, BTC price was at $11734.90 while holding Circulating Supply of 17,813,212 BTC. The leading crypto coin has $209,064,449,715 as its Market Capitalization. Also, Bitcoin fetches 8,574.41% of RoI (Return on Investment).

BTC/USD Price Chart

Bitcoin Price Chart
Bitcoin Price Chart

The coin initially dips near $11,352.65 and then strikes a rebound at $11709.02 with an increase of 3.14%. After that, the coin has maintained its price range around $11,650 with stability. At 10:06 UTC, Bitcoin has managed to again trade above $11,700. In the last 4 hours, BTC has increased by 2.92%.

Bitcoin still trades under the selling pressure with its current price being 2.02% higher than its 5-days SMA of $11501.94. 

Technical Indicators:

The MACD of the coin is slightly volatile and showing a bullish price move as the MACD line is above the Signal line. Also, the RSI is at 60 showing no extremities. Bitcoin is likely to see immediate resistance at $11,949.21, and support levels at $10,963.51 and $10,568.37.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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