Home Bitcoin Price Analysis: BTC/USD spikes to $11,600 and drops to $11,340 within one hour
Crypto News

Bitcoin Price Analysis: BTC/USD spikes to $11,600 and drops to $11,340 within one hour

FX Street
Published date:
  • It seems that some positive news from the Federal Reserve made Bitcoin jump to $11,600 within one hour.
  • The move didn’t last for longer than a few minutes and Bitcoin is down again at almost its initial price.

Bitcoin price is currently around $11,360 after a failed attempt by the bulls to climb above $11,600 following some positive comments from Jerome Powell. 

BTC/USD 15-minute chart

BTCUSD

We can clearly see the first three green candlesticks moving Bitcoin towards $11,600 and the next three giving all the gains back and even droppìng lower. The overall sentiment of Bitcoin continues being positive despite the recent downtrend.

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026