FX.co ★ Bitcoin In Uptrend Mode!

Bitcoin has managed to jump and stabilize above the major downtrend line signaling and announcing a reversal. The price has managed to increase in the last months developing an uptrend.

BTC/USD is into a minor consolidation, sideways movement, it tries to accumulate more energy and to attract more buyers before resuming this swing higher. The next upside target is seen around $12,918 level, we had a former top, peak, at this level in the past.

• Bitcoin Trading Tips

Buy BTC/USD if the price climbs above $12,100 level, after passing above the former high, you can set your first upside target at the $13,000 psychological level. You should place your Stop Loss somewhere below $10,800 level, a drop below this level will invalidate further growth and will signal a potential larger drop.

Bitcoin is expected to jump way higher as long as it's trading above the uptrend line, so we may see the price above $12,918 - $13,000 area in the upcoming weeks.