More

    Bitcoin (BTC) Price Analysis (February 11)

    Key Highlights

    • The US dollar still relatively overwhelms the valuation of BTC.
    • The currency-pair may now have to trade around the $9,600 mark for a while.
    • The market point at $9, 600, now appears the critical line that stands between the bulls and the bears in the BTC/USD trade.

    • Major distribution territories: $10,400, $10,800, $11,200
    • Major accumulation territories: $9,200, $8,800, $8,400

    Bitcoin (BTC) Price Analysis

    The US dollar price worth has relatively continued to put the valuation of BTC under a falling pressure until the present. Though, as at the time of writing, the pressure seems getting weaker as price closely averages the point of $9,600.

    The currency-pair may now have to trade around the $9,600 market value for a while before it can get a definite direction. An upward push at that point, will potentially see the crypto getting set a further reliable rises in the BTC/USD market worth.

    Bitcoin Technical Indicators Reading

    The 14-day SMA trading indicator has slightly curved southwards around $10,000 point above the 50-day SMA trend-line. The 50-day SMA yet points to the north indicating that the market upward trend hasn’t been over completely.

    A sudden cross of the 50-day SMA by the 14-day SMA from the top may lead the BTC/USD market point to a low line at $9,200. The Stochastic Oscillators have now dipped into the oversold region. That means the downward force may not last longer in the BTC/USD market.

    Conclusion

    As the flagship cryptocurrency now trades below its immediate major resistance level against the 14-day SMA indicator signifies that the bulls have been gradually relaxing their strength in the market. The bears may continue to have a stronghold of the market, while the $10,400 price value remains resistant to a further upswing of this crypto-trading operation.

    The BTC/USD market bulls are expectantly to accumulate power around the $9,600 mark to decimate the bears’ forces in this cryptocurrency trade operation.


    Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Ben Jordan
    Ben Jordan
    Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,284FansLike
    2,759FollowersFollow
    4,130FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    European Space Agency to Use Blockchain-Powered Satellite Data For Mining Transparency

    Blockchain tech is fast on the track of providing solutions from space despite a skeptical approach towards its major use as per now ‘cryptocurrencies’....

    Global Finance Watchdog Warns That Cryptocurrencies are Leaving Regulators Behind

    Since the world of digital payments is continuing to grow very rapidly and to come up with all kinds of innovations, regulators need to...

    Samsung’s Galaxy S20 Will Feature A New Processor To Protect Blockchain Private Keys

    Samsung Electronics announced support for blockchain private keys on their flagship phone, Samsung Galaxy S20 set to launch on the first week of March...

    GBTC Trading At A 41% Premium, Signaling Huge Demand Among Institutional Investors

    As more alternatives enter and become popular, the premium on GBTC is expected to decrease, regular change to affect it too “Institutional/accredited investors...

    Binance Futures Weekly Trading Volume Has Doubled In 2020, Hitting $16 Billion

    According to a blog post by Binance, its Futures trading volume now stands at $16 Billion per week which is double from the beginning...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.