Thursday, August 8, 2019
Our indicators are mitigated when evaluating the $12'000 resistance. A bullish news may be needed to help cross it.
Current support/resistance: $11'200/$12'000
Bitcoin dominance has reached a new yearly peak of 68.9 percent. However, the bulls are struggling against the $12'000 level and are sitting below. The number of active addresses in the Bitcoin network is starting an uptrend once more after a lower month of July. Tension is slowly building up and might give a strong momentum to the next run.
Technical indicators are positive, however reaching levels close to $12'000 the CyBorg as well as the community have had a lower probability than usual, indicating the strong barrier we face.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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