Bitcoin price (BTC/USD) leaps over $12,500 on Tuesday morning

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/

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