Bitcoin (BTC) rate rises above $ 13,000; technical indicator signals possible pullback

Cornelia Mascio
Luglio 13, 2019

Bitcoin is now the only top 10 coin in the green, according to data provided by CoinMarketCap. While the rest of the top 10 cryptocurrencies show red numbers, bitcoin shows a 2% increase in the last 24 hours. The market capitalization of bitcoin now stands at $ 230.5 billion and the total market capitalization at $ 354.5 billion. This puts the bitcoin dominance at 65%.

Now, one prominent analyst who called today's drop is noting that it is critical that Bitcoin holds strong above $12,000, or its newfound bullish momentum could be placed in jeopardy. A pullback followed, after which the price found support at $ 12,100.

Bitcoin dropped by nearly 12% over the past 24 hours and is trading at around $11,500, after unsuccessful attempts to gain a foothold above $13K.

In the past 24 hours, the bitcoin price has seen a gain of around $1,000 and surpassed $13,150 across major crypto exchanges, demonstrating strong momentum against the USA dollar.

BTC/USD retreated below $13,000 after a short-lived spike to new highs.

Technical analysts have said that the recovery of bitcoin from relatively large short term corrections have strengthened the foundation of the current rally of the asset.

For now, the next resistance levels are at $ 13,100, $ 13,200 and $ 13,500.

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