CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Bitcoin price chart analysis: buy dips under $11,000

By Nathan Batchelor

13:24, 3 August 2020

Bitcoin price chart analysis

Bitcoin looks set to continue its recent bull run, as the number one cryptocurrency firms above the psychological $10,000 level.

Bitcoin price chart analysis shows that the $13,500 level is seen as the likely medium-term target.

Bitcoin medium-term price trend

Bitcoin appears increasingly bullish above the $10,000 level, further cementing the notion that we may soon see a test of the 2019 trading high.

Bitcoin price technical analysis shows that a huge bullish pattern will form if the cryptocurrency reaches the $13,500 level.

Bitcoin price technical analysis

The daily time frame shows that a massive inverted head and shoulders pattern will form if the cryptocurrency reaches the $14,000 level.

According to the size of the potential bullish pattern, the BTC/USD pair could rally towards the $20,000 level and beyond.

Key medium-term resistance on the way to $13,500 is located at the $12,300 and $13,000 levels.

What is your sentiment on EA?

129.63
Bullish
or
Bearish
Vote to see Traders sentiment!

BTC/USD

64,201.05 Price
+1.930% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

BCH/USD

470.00 Price
+3.080% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

DOGE/USD

0.16 Price
+12.060% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.54 Price
+0.230% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

Bitcoin short-term price trend

Bitcoin price technical analysis shows that short-term bulls remain in control while the price trades above the $10,100 level.

Lower time frame analysis shows that a rising price channel is located between the $9,200 and $11,200 levels.

Bitcoin price technical analysis

Continued gains above the $11,200 level is likely to prompt further gains towards the $13,500 area.

If the BTC/USD pair falls back inside the channel, key technical support for the BTC/USD pair is located at the $10,500 and $10,300 levels.

It is noteworthy that a sustained decline under the $10,300 level could provoke a major pullback towards the $9,200 level

Bitcoin technical summary

Bitcoin technical analysis indicates that the cryptocurrency is appearing increasingly bullish. The $13,500 level is seen as the wider bullish target.

Trade Bitcoin to US Dollar - BTC/USD CFD

Markets in this article

BTC/USD
Bitcoin / USD
64201.05 USD
1214.75 +1.930%

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 610,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading