Bitcoin Technical Analysis: BTC/USD lags behind Ethereum which already hade a breakout above $400
|- Ethereum continues leading the way while BTC remains flat.
- BTC/USD did bounce from $11,000 up to $11,745 but a breakout still hasn’t occurred.
Ethereum already got his new breakout and leg up while Bitcoin continues trading at $11,745 below the crucial resistance level at $12,000. The market dominance of Bitcoin has dropped to 58%, a level not seen since June 2019.
BTC/USD daily chart
-637330071253140640.png){kind=link}
It’s important to note that Bitcoin is still in a robust daily uptrend and bullish, however, it is slower than Ethereum which is currently taking the lead. The biggest resistance level remains at $12,000. Fortunately, bulls have been able to defend the daily 12-EMA and are at no risk right now.
BTC/USD technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.