Price Analysis

Bitcoin Price Analysis: Will Bitcoin Settle its Price Position Above $13000

  • BTC Price ranges between $12900 to $13000
  • BTC is making steady efforts to stay above $13000
  • Over a 4-hour time span, Bitcoin sees a plunge near $12855, followed by an upward correction as well

Bitcoin had bullishly hit the price point above $12000 yesterday, and since then the coin has maintained an uptrend. Today, BTC has even traded above $13000, though, it seeks stability there, as the price is currently moving majorly between $12900 to $13000.

As given in its 4-hourly chart, the coin witnesses a notable price plunge, and after which it struggles to remain above $13000.

Bitcoin Current Statistics:

At 09:44:46 UTC, BTC is trading with its price at $13010.98, while having Market Capitalization of $231,209,755,384. The leading crypto coin holds 17,809,625 BTC as part of its Circulating Supply. Bitcoin currently fetches RoI (Return On Investment) of > 9000%. 

BTC 4-Hour Price Chart

Bitcoin Price Chart

At 5:45 UTC, Bitcoin was trading above $13000, after which it saw a bit of price turbulence where it has traced a bearish trendline. The coin then takes a sharp fall near $12,853 and then corrects up. The coin gradually surges above $13000 breaking resistance near $12929. Though the coin is not steadily trading above 13000 and keeps swaying between the said range.

Bitcoin is soaring high with a bullish momentum as the coin is in strong BUY phase at present. Its current price is 13.32% higher than its 20-days SMA of $11481.42.  

Technical Indicators:

The MACD of the coin appears moderately volatile while it shows a bearish crossover as its MACD line is below the Signal line. The RSI for BTC is near 50 showing stability. Bitcoin’s Major resistance price can be at $13,074.6, While it may see support price at $12,278.34.

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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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