{"id":235094,"date":"2019-08-12T17:25:48","date_gmt":"2019-08-12T21:25:48","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=235094"},"modified":"2019-08-12T17:30:10","modified_gmt":"2019-08-12T21:30:10","slug":"bitcoin-price-analysis-btc-looks-down-again-fails-to-stay-above-11500","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-analysis-btc-looks-down-again-fails-to-stay-above-11500","title":{"rendered":"Bitcoin Price Analysis: BTC Looks down Again, Fails to Stay Above $11,500"},"content":{"rendered":"

Bitcoin Price Analysis (BTC) \u2013 August 12<\/strong><\/p>\n

Bitcoin (BTC) created a mirage while it surged; Currently, trade below $11,450.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:
\nResistance Levels: $13,000, $13,500 $14,000
\nSupport Levels: $9,500, $9,000, $8,500<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

Bitcoin was seen trading at $11,358 a few hours ago, and it then soared as high as $11,400 from there. The coin then pulled back to $11,387 and continued to head downwards. The coin hit the bottom at $11,275 with a decline of $0.78%. Finding support there, the coin then rebounded to $11,401.06.<\/p>\n

Now, the market is deciding around $11,420, where the buyers are anticipating for a clear breakout. Meanwhile, the $12,100 and $12,250 levels may further surface as critical resistances should the $12,000 level holds. However, a strong bullish spike might take the price to $13,000, $13,500 and $14,000 levels.<\/p>\n

If the market decides to go down, Bitcoin\u2019s price may drop to $10,500 and should this support fails to contain sell-off, we may see a further roll back to $9,500, $9,000 and potentially $8,500. The Stochastic RSI for Bitcoin price suggests an extremely overbought market. Turning downward, the market may fall to immediate supports.<\/p>\n

BTC\/USD Medium-term Trend: Ranging (4H Chart)<\/h4>\n

BTC\/USD trades within the range of $11,200 to $11,450. Nevertheless, Bitcoin has not yet slipped below $11,000 and is still in the loop of making a bounce back. BTC price hovers around $11,400 and may take time to persistently trade above $11,800. At the moment, BTC price is currently moving around $11,417 level. The upward movement is facing hurdles near the $11,800 and $12,000 resistance levels.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

Furthermore, on the downside, immediate support is near the $11,000 level while the main support is at the $10,800 level. The price might slide sharply below $10,600 which may likely test the main support at $10,400 level. Technically, Bitcoin is poised for more losses in the near-term as RSI (14) is currently moving in sideways and above 40-level, indicating indecisive market movement.<\/p>\n

Please note:<\/strong> insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin Price Analysis (BTC) \u2013 August 12 Bitcoin (BTC) created a mirage while it surged; Currently, trade below $11,450. BTC\/USD Long-term Trend: Bullish (Daily Chart) […]<\/a><\/div>","protected":false},"author":1742,"featured_media":235116,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[9037,7991,7992],"acf":[],"yoast_head":"\nBitcoin Price Analysis: BTC Looks down Again, Fails to Stay Above $11,500<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) created a mirage while it surged; Currently, trade below $11,450.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/235094\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Analysis: BTC Looks down Again, Fails to Stay Above $11,500\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) created a mirage while it surged; Currently, trade below $11,450.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-12T21:25:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-12T21:30:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/08\/BTCUSD_4H_12082019.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1006\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Azeez Mustapha\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ItuGlobal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azeez Mustapha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/235094#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/235094\"},\"author\":{\"name\":\"Azeez Mustapha\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\"},\"headline\":\"Bitcoin Price Analysis: BTC Looks down Again, Fails to Stay Above $11,500\",\"datePublished\":\"2019-08-12T21:25:48+00:00\",\"dateModified\":\"2019-08-12T21:30:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/235094\"},\"wordCount\":358,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"keywords\":[\"BTC. 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