Bitcoin is looking indecisive after witnessing solid two-way business in the last 24 hours. Today’s UTC close will likely determine the next move.
Bitcoin has charted its longest winning run in a month, but still requires a move to almost $11,000 to confirm a short-term bullish revival.
Bitcoin recovered to an eight-day high on Tuesday, as its dominance of the cryptocurrency market reached 30-month highs.
Bitcoin’s defense of the 100-day price average and a bullish RSI divergence on the hourly chart call for a minor price bounce to $10,300.
Bitcoin has gained $1,000 since the Bakkt exchange announced it has the green light to offer bitcoin futures, but key resistance still lies ahead.
Bitcoin has bounced from key price support, but the outlook remains bearish as long as prices hold below Thursday’s high of $10,445.
Bitcoin is looking south, having retraced more than 50 percent of the $3,000 rally seen in the 10 days to Aug. 6.
Bitcoin now needs to break above $13,200 to revive the stalled bull market, a key monthly chart pattern suggests.
Bitcoin could drop below $11,000 in the next 24 hours, after sellers took victory in a four-day-long tug of war with the bulls.
Bitcoin is witnessing indecisive price action for the third day, with a break above Wednesday’s high of $12,145 needed to revive the bullish outlook.