Bitcoin Price Analysis: BTC Steadily Marches Towards its Next Target; Heading to Cross $12000
- Bitcoin strikes a sharp price spike, price moves closer to $12000
- BTC surges by 3.56% in only 4 hours
- The MACD chart approaches a crossover, shows very little volatility
- RSI for BTC is near 50 showing stability
Bitcoin had a remarkable price surge above $13000 on 26th June which had uplifted a majority part of the crypto market. After a downward correction and following price recovery, the BTC price has been maintaining its price range above $11000.
It is today when Bitcoin is witnessing a notable upward price momentum and the coin is expected to reach $12000 price mark soon with a bullish spree. Also, read more on future predictions for Bitcoin on our forecast page.
Current Statistics:
At 10:18:01 UTC, Bitcoin is currently trading at $11870 with a bullish impact while having $210,644,835,104 as its Market Capitalization. The coin holds 17,805,862 BTC in its Circulating Supply. Bitcoin fetches RoI (Return on Investment) of 8,643.59%.
Bitcoin 4-Hour Price Chart
Comparison:
BTC was initially trading above $11400 without much of price fluctuations. At 8:55 UTC BTC has sharply soared to $11912.82 with an increase of 4.30%. It then corrected downwards at $11851.30 and has been trading above $11800 since then. The positive price move by Bitcoin seems all set to hit the $12000.
Here, Bitcoin has broken major resistance near $11600 and $11700. The current price of BTC is 15.83% higher than its 30-day SMA of $10247.09, indicating its bullish nature.
Technical Indicators
MACD for BTC appears a little volatile and is approaching a stable positive trend, while RSI appears near 50, indicating a stable momentum. Also, the recent price spike has given a “Strong Buy” signal for the coin.
It seems BTC price may see major resistance at $12,004.87 and major support levels at $11,219.23 and $10,987.6.
