Bitcoin price (BTC/USD) leaps over $12,500 on Tuesday morning
In a technical analysis piece published before Bitcoin’s move above $12,000 yesterday, industry website Coindesk noted that a high-volume break above $12,061 “would invalidate the bearish lower-highs pattern and open the doors to the recent high” of around $13,800. However, the online publication warned that a low-volume break could turn out to be a bull trap, especially as the weekly chart indicators, namely the weekly relative strength index (RSI), reported overbought conditions.
According to Coinmarketcap data, Bitcoin posted daily trading volume of $23.48 billion yesterday, up from the $19.37 billion generated during the preceding session. The coin’s 24-hour volume currently stands at $26.56 billion.
In today’s trading, the Bitcoin price stood at $12,719.53, as of 06:28 BST. The digital coin has gained 11.1% in the past 24 hours. Its total market capitalisation currently stands at $226.5 billion, which represents 64% of the combined value of all digital currencies.
Featured image: Jaruwan Jaiyangyuen/Shutterstock.com
More Resources
The post Bitcoin price (BTC/USD) leaps over $12,500 on Tuesday morning appeared first on The Independent Republic.
source: https://theindependentrepublic.com/bitcoin-price-btc-usd-leaps-over-12500-on-tuesday-morning/
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Article comments