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Bitcoin Technical Analysis: BTC/USD slides below $12,000 but no bearish continuation

FX Street
Updated:
  • Once again Bitcoin is facing some problems at $12,000.
  • After touching $12,468, the digital asset got rejected again and it’s currently trading below $12K

.Bitcoin is trading at $11,934 after a significant rejection from $12,387 dropping 3% within minutes. Bears haven’t gotten a lot of continuation just yet as Bitcoin is seeing some support from the daily 12-EMA at $11,763.

BTC/USD daily chart

BTCUSD

Bitcoin bulls are hoping to defend the daily 12-EMA and bounce back up above $12,000. They need to see a strong move and continuation after the crucial resistance level to be confident in the short-term. The last low of the daily uptrend is $11,110. 

The daily RSI has cooled off notably while the MACD remains in bearish mode.

FX Street

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