Bitcoin touches $11,900, fighting to break $12K! Or is rejection imminent?

26 Jun, 2019
by David Borman
Price Action
Bitcoin touches $11,900, fighting to break $12K! Or is rejection imminent?

Right now, the price of Bitcoin is battling just below the $12,000 line, even getting as high as $11,966.66 on Coinbase. If the price is not able to break above soon, there is a good chance we will see a rejection.

BTC/USD Chart provided by Tradingview

As we can see here on the hourly, Bitcoin is within $100 of $12,000 at the time of this writing, at least on Coinbase. If we zoom in we can see what is going to force the price to make a move soon:

BTC/USD Chart provided by Tradingview

Zooming all the way into 1 minute action, we see that the price in the recent hours is holding above the 50 min MA, but this will have to break soon, or else $12,000 will. Either way, a move is likely coming in the next few hours.

Some on twitter have weighed in on what this could look like. Some were more serious:

And some less so:

Either way the market holds its breath for another major resistance level to be broken. Will it happen in the next few hours? Stick with Chepicap for all updates!

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