Cryptocurrency markets are unpredictable. It could be bullish for an hour and bearish the next hour. There is no denying that technical analysis does reveal key insights into the complex crypto market, but one can remain awestruck at times with inexplicable price movements. Bitcoin(BTC) registered it’s yearly high reaching the 12K mark recently but the joy was short-lived.

A few red candles later, it was down by about 1000 USD within 30 minutes, due to a violent selloff. The 12K mark shall now act as an important resistance as it has been rejected already. At present (2 Aug, 2:04 pm UTC), the BTC price is USD 11,078 USD.

Bitcoin Price Chart
Bitcoin Price Chart

It’s 24 hour volume currently stands at $30,585,177,060, market cap at $204,450,383,176 and it is down 4.28% within the last 24 hours.

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