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Bitcoin Technical Analysis: BTC/USD lags behind Ethereum which already hade a breakout above $400

FX Street
Updated:
  • Ethereum continues leading the way while BTC remains flat.
  • BTC/USD did bounce from $11,000 up to $11,745 but a breakout still hasn’t occurred. 

Ethereum already got his new breakout and leg up while Bitcoin continues trading at $11,745 below the crucial resistance level at $12,000. The market dominance of Bitcoin has dropped to 58%, a level not seen since June 2019.

BTC/USD daily chart

BTCUSD

It’s important to note that Bitcoin is still in a robust daily uptrend and bullish, however, it is slower than Ethereum which is currently taking the lead. The biggest resistance level remains at $12,000. Fortunately, bulls have been able to defend the daily 12-EMA and are at no risk right now.

BTC/USD technical levels

 

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