Bitcoin Technical Analysis: BTC/USD trying to use Ethereum’s momentum to climb above $10,000
|- Ethereum is clearly leading the crypto market while Bitcoin remains behind.
- BTC/USD did see a nice pump towards $9,660 after ETH’s initial breakout.
We all know Bitcoin has been trading sideways for the past three months. Ethereum was stronger but also trading sideways until a few days ago when bulls managed to create a massive breakout above $250. Bitcoin also had a decent breakout, however, the most important resistance level at $10,000 remains untouched.
While this small price boost was great for Bitcoin, it doesn’t really change much in the long-term.
BTC/USD 1-hour chart
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Bitcoin is clearly trading inside an uptrend and has been defending both EMAs many times in a row. The most important resistance level is $9,682, of course, followed by $10,000.
BTC/USD daily chart
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Bitcoin is now in a daily uptrend again but that has happened a few times before. Perhaps the most notable change is the bullish cross of both EMA’s, however, this also happened on June 21 and didn’t help Bitcoin.
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