Bitcoin gained traction after dropping to $11,700 area. Bullish momentum could gather strength with a weekly close above $12,000. Bitcoin (BTC/USD) fluctuated in a tight range a little below $12,000 during the first half of the day but came under modest bearish pressure and dropped to a daily low of $11,690. Nevertheless, bulls easily retook the control of the price action and BTC/USD was last seen gaining 0.85% on a daily basis at $11,880. Nevertheless, a decisive move above the critical $12,000 area looks unlikely in choppy weekend trading. BTC/USD technical outlook The RSI indicator on the daily stays very close to 70, suggesting that BTC/USD could become technically overbought if it tries to break above $12,000 before making a technical correction. On the upside, $12,325 (August 6, 2019, high) could be seen as the next target ahead of $13,195 (July 10, 2019, high). Supports, on the other hand, are located at $11,700 (daily 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 daily chart Additional levels to watch for 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 Ethereum Price Analysis: ETH/USD consolidates weekly gains near $440 FX Street 2 years Bitcoin gained traction after dropping to $11,700 area. Bullish momentum could gather strength with a weekly close above $12,000. Bitcoin (BTC/USD) fluctuated in a tight range a little below $12,000 during the first half of the day but came under modest bearish pressure and dropped to a daily low of $11,690. Nevertheless, bulls easily retook the control of the price action and BTC/USD was last seen gaining 0.85% on a daily basis at $11,880. Nevertheless, a decisive move above the critical $12,000 area looks unlikely in choppy weekend trading. BTC/USD technical outlook The RSI indicator on the daily stays very… 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.
