Bitcoin (BTC) course breaks through major resistance but struggles with momentum

rise of bitcoin

The correction that started on 26 June does not seem to be ready yet. Despite a slight recovery from bitcoin (BTC), the price fell back to support at $ 11,500. The rest of the cryptomarket also saw some reasonable losses in recent days, but now seems to be consolidating somewhat.

At the time of writing, the price of bitcoin (BTC) is $ 11,828 according to CoinMarketCap after an increase of 2.26% in the last 24 hours. The bitcoin dominance remains approximately the same at 62.8%.

Bitcoin fell far back on June 27 and found support at $ 10,300. There, the recovery started, breaking the $ 11,500 again. This price point seems important at the moment, since it has already offered support and resistance a number of times.

Bitcoin finally managed to peak at $ 12,444 last night, but was unable to hold on to this momentum. While the weather managed to break above the rising trend line, it then fell through again.

BTC finally found support again at $ 11,500. From that point the course is on its way up again. For bitcoin, the next resistance is $ 12,000. The bulls must break through this price point to be able to realize further increases.

With further declines, the rate may find support at $ 11,500. If this support doesn’t hold, traders should keep an eye on the $ 11,200.

The rest of the cryptocurrency market showed similar movements, which is reflected in the total market capitalization. It recorded around $ 387 billion at its peak on June 26, but fell back to $ 305 billion within two days. In the end, the recovery started to nearly $ 350 billion, after which market capitalization fell back slightly to now $ 336.4 billion.

The largest climber among the top 10 altcoins is currently EOS with a value of $ 6.13 about 3.4% in the plus. The largest fall is binance coin (BNB). BNB records a value of $ 33.74 with a decrease of 1.2%.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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