BTC/USD is fluctuating in a tight range below $12,000. Bitcoin is up only 1.2% for the week after posting strong gains in previous three weeks. Bitcoin (BTC/USD) continues to trade sideways below $12,000 on Sunday and is headed to post gains for the fourth straight week. However, after surging by 8%, 11% and 5.5% in the previous three weeks, BTC/USD is up only 1.2% this week, suggesting that investors may be waiting for a decisive break above $12,000 before adding to their long positions. Bitcoin technical outlook On the daily chart, an ascending triangle seems to have formed with the upper-limit sitting near $12,000. Since this formation is usually considered as a continuation pattern, a decisive break beyond that resistance could help Bitcoin push higher toward $12,325 (August 6, 2019, high) and $13,195 (July 10, 2019, high). On the downside, supports align at $11,700 (August 15 low), $11,500 (20-day SMA) and $11,000 (lower limit of the two-week-old range, Fibonacci 23.6% retracement of July 24 – August 2 rally). Bitcoin chart (daily) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD Forecast Aug. 17-21 – Euro punches above 1.18 line Kenny Fisher 2 years BTC/USD is fluctuating in a tight range below $12,000. Bitcoin is up only 1.2% for the week after posting strong gains in previous three weeks. Bitcoin (BTC/USD) continues to trade sideways below $12,000 on Sunday and is headed to post gains for the fourth straight week. However, after surging by 8%, 11% and 5.5% in the previous three weeks, BTC/USD is up only 1.2% this week, suggesting that investors may be waiting for a decisive break above $12,000 before adding to their long positions. Bitcoin technical outlook On the daily chart, an ascending triangle seems to have formed with the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
