Bitcoin Price Analysis: BTC/USD Breaks Down Below $12,000

Throughout most of July 10, 2019, the Bitcoin price was trading above $12,800. However, at 15:30 (UTC +2) a massive downward move ensued. By the end of the day, the price had reached values below $11,600, a decrease of more than 10 percent.

This downward move has continued on July 11.

Where will the price go next? Keep reading below in order to find out.

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For our previous analysis, click here.

Bitcoin Price: Trends and Highlights for July 11
BTC/USD broke down from an ascending wedge.
The breakdown occurred with massive volume.
Daily moving averages are close to making a bearish cross.
There is support near $11,000 and $10,400.