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Bitcoin Price: Technical Analysis

What happened

Just like we expected, over the past weeks the bulls were dominating BTC/USD pair. They have managed to break through the $10K mark and raise the Bitcoin rate to $11.200. Thus, they have marked up a new consolidation level of $10-11.2K.

What’s next

Breaking the upper limit of the range will lead to further growth, going below the lower boundary – to correction. The MACD indicator shows a certain advantage of bulls, and we expect them to win in the mid-term. But, most likely, in the coming days a correction towards $8.500 is expected, after which a further wave of growth may follow.

Disclaimer

Our price analysis is for information purposes only. Please make the Bitcoin purchase and investment decisions independently at your own risk.

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