Price Analysis

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.

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

Bitcoin Price Chart
Bitcoin 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.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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