{"id":389374,"date":"2019-07-10T06:00:39","date_gmt":"2019-07-10T06:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=389374"},"modified":"2024-06-11T13:45:16","modified_gmt":"2024-06-11T13:45:16","slug":"bitcoin-price-btc-hits-13k-dips-remain-attractive-to-the-bulls","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-hits-13k-dips-remain-attractive-to-the-bulls\/","title":{"rendered":"Bitcoin Price (BTC) Hits $13K: Dips Remain Attractive To The Bulls"},"content":{"rendered":"<ul>\n<li>There was an upside extension above the $12,800 and $13,000 resistances in bitcoin price against the US Dollar.<\/li>\n<li>The price even traded close the second bullish target of $13,200 (as discussed yesterday).<\/li>\n<li>There is a major bullish trend line forming with support near $12,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>Dips remain supported if there is a downside correction towards the $12,700 or $12,500 level.<\/li>\n<\/ul>\n<p><em>Bitcoin price climbed further higher and broke the key $13,000 resistance against the US Dollar. BTC is currently consolidating gains and it is likely to continue higher.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Yesterday, we saw a solid upward move in bitcoin price above the $12,000 and $12,200 resistances against the US Dollar. Later, the BTC\/USD pair corrected lower from the $12,800 resistance area. It traded below the $12,500 level and tested the $12,200 support area. The bulls remained in action and the price remained supported above $12,000. Moreover, there was no close below $12,000 and the 100 hourly simple moving average.<\/p>\n<p>As a result, there was a fresh increase above the $12,500 resistance level. The price gained bullish momentum and broke the $13,000 level (<a href=\"https:\/\/wncen.com\/2019\/07\/09\/bitcoin-btc-price-surges-12-bulls-aim-13k-or-13-2k\/\" target=\"_blank\" rel=\"noopener noreferrer \">target discussed in yesterday\u2019s analysis<\/a>). Besides, it traded close to the second bullish target of $13,200. A new weekly high was formed at $13,152 and bitcoin price is currently correcting gains. It is trading near the $12,900 level plus the 23.6% Fib retracement level of the recent wave from the $12,147 low to $13,152 high.<\/p>\n<p>On the downside, there are many supports near the $12,800 and $12,600 levels. Moreover, there is a major bullish trend line forming with support near $12,700 on the hourly chart of the BTC\/USD pair. The 50% Fib retracement level of the recent wave from the $12,147 low to $13,152 high is also near the $12,650 level to act as a <a href=\"https:\/\/wncen.com\/2019\/07\/08\/bitcoin-btc-price-primed-for-more-gains-above-11500\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong support<\/a>.<\/p>\n<p>If there is a downside break below the $12,600 and $12,500 support levels, the price could revisit the $12,200 support area. On the upside, an initial resistance is near the $13,200 level, above which there are chances of a push towards the $13,500 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-389375\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Bitcoin-9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price seems to be preparing for more upsides above the $13,200 level. In the short term, there could be a downside correction, but the bulls are likely to defend the $12,800 or $12,600 support area in the coming sessions.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is currently gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level, with positive signs.<\/p>\n<p>Major Support Levels \u2013 $12,800 followed by $12,600.<\/p>\n<p>Major Resistance Levels \u2013 $13,150, $13,200 and $13,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was an upside extension above the $12,800 and $13,000 resistances in bitcoin price against the US Dollar. The price even traded close the second bullish target of $13,200 (as discussed yesterday). There is a major bullish trend line forming with support near $12,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). Dips remain supported if there is a downside correction towards the $12,700 or $12,500 level. Bitcoin price climbed further higher and broke the key $13,000 resistance against the US Dollar. BTC is currently consolidating gains and it is likely to continue higher. Bitcoin Price Analysis Yesterday, we saw a solid upward move in bitcoin price above the $12,000 and $12,200 resistances against the US Dollar. Later, the BTC\/USD pair corrected lower from the $12,800 resistance area. It traded below the $12,500 level and tested the $12,200 support area. The bulls remained in action and the price remained supported above $12,000. Moreover, there was no close below $12,000 and the 100 hourly simple moving average. As a result, there was a fresh increase above the $12,500 resistance level. The price gained bullish momentum and broke the $13,000 level (target discussed in yesterday\u2019s analysis). Besides, it traded close to the second bullish target of $13,200. A new weekly high was formed at $13,152 and bitcoin price is currently correcting gains. It is trading near the $12,900 level plus the 23.6% Fib retracement level of the recent wave from the $12,147 low to $13,152 high. On the downside, there are many supports near the $12,800 and $12,600 levels. Moreover, there is a major bullish trend line forming with support near $12,700 on the hourly chart of the BTC\/USD pair. The 50% Fib retracement level of the recent wave from the $12,147 low to $13,152 high is also near the $12,650 level to act as a strong support. If there is a downside break below the $12,600 and $12,500 support levels, the price could revisit the $12,200 support area. On the upside, an initial resistance is near the $13,200 level, above which there are chances of a push towards the $13,500 level. Looking at the chart, bitcoin price seems to be preparing for more upsides above the $13,200 level. In the short term, there could be a downside correction, but the bulls are likely to defend the $12,800 or $12,600 support area in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is currently gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 60 level, with positive signs. Major Support Levels \u2013 $12,800 followed by $12,600. Major Resistance Levels \u2013 $13,150, $13,200 and $13,500.<\/p>\n","protected":false},"author":67,"featured_media":344598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-389374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Price (BTC) Hits $13K: Dips Remain Attractive To The Bulls<\/title>\n<meta name=\"description\" content=\"Bitcoin price climbed further higher and broke the key $13,000 resistance against the US Dollar. 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