Bitcoin (BTC) Price Surges 12%: Bulls Aim $13K or $13.2K
technical analysis

Bitcoin (BTC) Price Surges 12%: Bulls Aim $13K or $13.2K

THELOGICALINDIAN - Bitcoin amount climbed college acutely aloft 12024 and 12500 adjoin the US Dollar BTC is currently assuming absolute signs and it could alike analysis the 13000 resistance

Bitcoin Price Analysis

Yesterday, we saw a few positive moves in bitcoin price aloft the $11,000 akin adjoin the US Dollar. The BTC/USD brace traded steadily aloft the $11,200 axis akin and the 100 alternate simple affective average. Moreover, there were ambit moves afore the amount started a able advancement move aloft the $11,500 attrition level. Once there was a abutting aloft the $11,500 level, the climbed added than 12% in the accomplished three sessions.

Moreover, yesterday’s accent acute application triangle was breached with attrition abreast $11,520 on the alternate blueprint of the BTC/USD pair. It set the accent for a beginning assemblage aloft the $12,000 attrition level. The brace alike bankrupt the $12,500 attrition and traded abutting to the $12,800 level. A new account aerial was formed abreast $12,788 and the amount is currently accumulation gains.

An antecedent abutment is abreast the $12,600 akin additional the 23.6% Fib retracement akin of the contempo assemblage from the $11,810 low to $12,788 high. On the downside, there are abounding important supports abreast the $12,500 level. If there are added losses, the $12,250 akin may act as a able support. It coincides with the 50% Fib retracement akin of the contempo assemblage from the $11,810 low to $12,788 high.

On the upside, an antecedent attrition is abreast the $12,800 level. If there is an upside break, the price is acceptable to ascend further aloft the $13,000 level. The abutting above attrition for the beasts is abreast the $13,200 level.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin amount is acutely trading with a able bullish bent aloft the $12,200 and $12,500 abutment levels. Therefore, there are aerial affairs of added upsides aloft the $13,000 akin in the advancing sessions. Any abatement from the accepted levels ability acquisition a able abutment abreast $12,600 or $12,250.

Technical indicators:

Hourly MACD – The MACD is accepting drive in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently abreast the acute overbought levels.

Major Support Levels – $12,600 followed by $12,250.

Major Resistance Levels – $11,500, $11,600 and $12,000.