NewsPrice Analysis

Bitcoin Bulls Eyeing Fresh Increase – BTC Price Surges Above 10%

The Leading cryptocurrency Bitcoin has enjoyed bullish trend continuous for 3 days in a row. The Bitcoin price has surged up from $11,000 to $12,600. The bulls have continued to rule this Tuesday, taking the price further up to $12,710.

The price gained more than 7% in less than 12 hours reaching $11890 trading level. While technical analysis of Bitcoin has a strong bullish penchant.

According to the 24-hr time period, BTC price has surged over 11% from $11k to $12k. This growth has increased the BTC market cap to $2.66 billion.  At the time of writing, the Bitcoin coin price has increased by 11% against the USD, trading at $12,710.16 USD.

Currently, the Bitcoin is holding market cap $226,338,039,652 USD with $26,581,996,208 USD 24-hour volume and  17,807,650 BTC circulating supply.

According to Technical Indicators 

  • The Chaikin Money Flow is indicating a Bullish Trend. Showcasing continuous Buying Pressure, rising prices coinciding with CMF values above 0.36.
  • The Bollinger Band is showing divergent volatility in the market.
  • The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
  • The Relative Strength indicator has turned bullish on the one-hour time frame which is above 70 levels. Indicating over bought condition.
  • The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
  • The Parabolic SAR markers were below the candles and showcased a bullish market.

What’s your Bitcoin Price Prediction for 2019? Will the price reach $20,000 or keeps hovering within $12,000.

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Nidhi Kolhapur

Nidhi is a passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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