On June 4, 2019, the Bitcoin (BTC) price reached a high of $8498.59. A rapid decrease began and the price reached a low of $7449.4 the same day. Since then, it has been increasing, reaching highs of $8134.99 on June 7. After a gradual decrease, similar highs were reached on June 10 and 12.

Bitcoin Price (BTC): Trends and Highlights for June 12, 2019
- The price of BTC/USD reached a high on June 4.
- It is trading inside an ascending triangle.
- There is a bearish divergence developing in the RSI both in the short and long-term.
- The price is possibly creating a head and shoulders pattern.
- There is resistance near $8400.
BTC Price: Ascending Triangle
The price of BTC/USD on BITFINEX was analyzed at one-hour intervals from June 4 to June 12 in order to trace the current trading pattern.
On June 3, the BTC price reached an hourly high of $8103.63. A rapid decrease began the same day. The Bitcoin price reached lows of $7449.68 the same day. A gradual increase ensued.
Since then, the price has been trading inside the ascending triangle outlined below:


Relative Strength Index
The BTC price is analyzed alongside the RSI in an hourly (first graph) and daily time-frame (second graph) below:


Head And Shoulders
However, the price is possibly creating a head and shoulders pattern. This is a bearish reversal pattern.
Future Movement
One resistance area for BTC/USD is traced in the graph below. It is used to determine future areas of reversal.
Summary
Bitcoin (BTC) is trading inside an ascending triangle. The RSI gives a bearish outlook in both the short and the long-term. The technical indicators support an increase toward the support line of the triangle. Do you think the Bitcoin price will break reach the support line of the triangle? Let us know in the comments below. Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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