After the pullback yesterday, bitcoin (BTC) managed to find strong support. From that point on, BTC again rose sharply, with a peak above $ 13,000. However, a technical indicator again signals a possible pullback.
At the time of writing, the value of bitcoin (BTC) is $ 12,880 according to CoinMarketCap. While the rest of the top 10 cryptocurrencies show red numbers, bitcoin shows a 2% increase in the last 24 hours.
Due to the falling altcoins but rising bitcoin, bitcoin dominance has risen again. The market capitalization of bitcoin currently stands at $ 230.5 billion and the total market capitalization at $ 354.5 billion. This puts the bitcoin dominance at 65%.
Bitcoin managed yesterday to reach a peak of $ 12,829, but could not hold this momentum. A pullback followed, after which the price found support at $ 12,100.
After trading sideways for a few hours, bitcoin started a new rise. The bulls pushed the price through the $ 12,500 and even the $ 13,000. A new high point for this week was formed at $ 13,161 on the cryptocurrency exchange Coinbase.
The $ 13,100 turned out to be too strong a resistance for now. Moreover, a divergence can be seen on the Relative Strength Index (RSI) . The peak of yesterday on the RSI is higher than the peak of today, while the peak in today’s price is higher. A possible new pullback is certainly possible as the momentum seems to be less strong.
For now, the next resistance levels are at $ 13,100, $ 13,200 and $ 13,500. Should a pullback indeed take place, traders should monitor support levels at $ 12,800 and $ 12,600.