• From the $9,400 price level, the market has reached a high of $11,175 as at the time of writing.
• On the upside, if the bulls break the $11,200 resistance level, the market will reach a high of $12,000.

BTC/USD Medium-term Trend: Bullish

• Resistance Levels: $11,000, $11,500 ¸ $12,000
• Support levels: $10,500, $10,000, $9, 500

Last week, June 21, the BTC price broke the $9,400 overhead resistance and made an upward move to the previous high. In the previous week, the BTC market was trading below the $9,400 overhead resistance for five days before the bulls succeed in breaking the level. The BTC market is likely to appreciate in value if more buyers are introduced at the upper price level.

From the $9,400 price level, the market  rose to a high of $11,175 as at the time of writing. Since June 19, the crypto is making a series of higher highs and higher lows. A trend line is drawn to determine the duration of the bullish trend. Presently, the BTC market is in a bullish trend because the trend line is not broken.

The crypto’s price tests the trend line and makes an upward move above the trend line. A situation where price breaks the trend line and another candlestick closes on the opposite of it; technically, it is assumed that the current trend is terminated. 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 a smooth uptrend. On June 22, the bulls were resisted at the $11,200 price level. The crypto’s price retraced to the support of $10,600 price level. The bulls pulled back price above the EMAs. Today, the crypto’s price is making an upward move to retest or break the $11, 200 price level.

On the upside, if the bulls break the $11,200 resistance level, the market will reach a high of $12,000. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

Bitcoin’s price is $47,290.49 BTC/USD exchange rate today. The real-time BTC market cap of $880.59 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $21.75 Billion and live coin value change of BTC 3.84 in the last 24 hours.

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