Bitcoin Technical Analysis: BTC/USD slides below $12,000, no bearish continuation
|- Once again Bitcoin is facing some problems at $12,000.
- After touching $12,468, the digital asset got rejected again and it’s currently trading below $12K.
Bitcoin is trading at $11,934 after a significant rejection from $12,387 dropping 3% within minutes. Bears haven’t gotten a lot of continuation just yet as Bitcoin is seeing some support from the daily 12-EMA at $11,763.
BTC/USD daily chart
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Bitcoin bulls are hoping to defend the daily 12-EMA and to bounce back up above $12,000. They need to see a strong move and continuation after the crucial resistance level to be confident in the short-term. The last low of the daily uptrend is $11,110, which could act as a support level.
The daily RSI has cooled off notably, while the MACD remains in bearish mode.
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