Bitcoin Price Analysis: BTC Price is About to Break 12k?

Saturday 11 August 2020, 11:14 PM AEST - 5 days ago

After months of anxiety, the Bitcoin price is finally climbing like a rocket. Most of the cryptocurrencies are also performing well. The second most popular cryptocurrency in the world, Ethereum has cracked $360 and is also climbing like crazy. The BTC price could be in the bull market as it has touched $11,637.98 (+3.75%). Lets see more about this in detail.

Bitcoin Price Analysis: BTC Price has a clear path to $12,000? Bitcoin Price Analysis Bitcoin Price Analysis: Tradingview

The Bitcoin price is displaying the bullish momentum. If you closely analyze then you will find that this bullish momentum is very strong but a strong concentration is required. At the time of writing, the price is hovering around the $ 11,700 mark, and it could soon reach the $12,000 mark.

The Bitcoin price has been in an uptrend from the past few days but has not strengthened just yet. This could not be essentially critical as the breakout above $10,500 was remarkably significant. As per the previous Bitcoin price analysis, the important thing to remember here is that Bitcoin is growing very bullish in 2020 and looks stable in the medium to long term. However, traders can only expect another bull run if the price breaks the golden ratio at $13,800 but before that, the price should touch $12,400. The key metrics are as follows:

Price $11,638.10
24hr Change +3.75%
24hr Vol $2,502,348,901
Liquid Marketcap $214,246,313,868
Liquid Supply 18,447,810
Max Supply 21,000,000

Bitcoin Price Analysis: The BTC Price and the Short term ROI

Over the past seven days, the Bitcoin price performance (ROI) vs USD quite impressive. The ROI has increased by almost 20% and the number of unique addresses that engaged in a transaction at any point during the past 24hrs is almost 1,062,920.

The RSI is in the overbought area. This could be the indicator that the Bitcoin price could touch $12000. The MACD could be displaying the buyers influence and the daily and the weekly chart both are also quite bullish with an uptrend. The significant resistance level for Bitcoin could b ...

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