|BTC Price: $11,377
Last 7 Days: -3.74% 1month: -1.57% 12months: +79.65%
In recent days we have seen a decent rise in the price of BTC above the $11,000 resistance and trading further through $11,800. Furthermore there was a break above $12,000 and the price settled well above the 100 simple moving average with a swing high being formed near $12,345 before BTC/USD started a downside correction.
Subsequently, a consolidation pattern formed below $12,000 before the price started a downside correction which opened doors for more losses as the price pushed further towards $11,400 and closed at the support of $11,200. The next key support level is $10,750 as it represents the 50% FIB retracement level of the last upward move from $9,140 low to $12,327 high. On the chart we are seeing a correction here and could find a low of $10,400, however with a successful break through $11,500 we should see $12,000 again shortly.
Major Support Level – $11,000
Major Resistance Level – $11,800
5thAugust: $23,875,988,832 (BTC Price of $11,805)
12thAugust: $15,066,139,960 (BTC Price of $11,395)
36% decrease in trading volume in the last 7 days