• The BTC market is facing another resistance at the $12,40O price level.
• On the upside, if the bulls sustain the price above the EMAs, the market will retest its previous high of $14,000.

BTC/USD Medium-term Trend: Bullish

• Resistance Levels: $12,000, $11, 800 ¸ $12,400
• Support levels: $12250, $11,000, $10, 750

Yesterday, July 9, the bulls broke the $12,000 resistance level as the crypto’s price rises to the previous high. However, the BTC market is facing another resistance at the $12,40O price level. The market made a slight retracement to the support of the 12-day EMA. The BTC market has begun its upward move to the previous high. The moving average is signaling an upward direction.

The crypto’s price is also above the 12-day EMA and the 26-day EMA which indicates that  price will continue its upward move. On the upside, if the bulls sustain the price above the EMAs, the market will retest its previous high of $14,000. Nevertheless, the market reached $13,200 but was resisted as it fell to the support of the $12,000 price level. The crypto’s price is above the EMAs which indicate that price is likely to rise. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the BTC price is in an uptrend trend. The 12-day EMA and the 26-day EMA appears to be heading northward. On July 9, the crypto’s price was trending above the 12-day EMA but face resistance at the $12,800 price level.

The market is making an upward move above the 26-day EMA as it broke above the $12,800 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

Bitcoin’s price is $46,479.14 BTC/USD exchange rate today. The real-time BTC market cap of $865.48 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $25.81 Billion and live coin value change of BTC -7.74 in the last 24 hours.

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