The BTC/USDC pair has been trading in a narrow range located between the levels of 11,800 - 11,900 and continues to move within the growth and upward channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines as shown by Bollinger Bands Width (BBW), which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quoted prices.
This market behavior might indicate a distribution phase close to this year's highs, so it is worth keeping an eye on the level of 11,900. Any violation of this level might lead to a corrective cycle development towards the next technical support seen at the level of 11,600. However, if the bulls will decide to continue buying, the yearly high located at the level of 12,000 is possible to reach very quickly. The next target for bulls is seen at the level of 12,500. The daily time frame chart remains bullish.
The trend on the BTC/USDC pair remains up and there are no signs of a trend reversal, so buy orders are preferred in the mid-term. The next mid-term target for bulls can move above 12,500. The key breakdown of technical support is seen at the level of 11,000.
This market behavior might indicate a distribution phase close to this year's highs, so it is worth keeping an eye on the level of 11,900. Any violation of this level might lead to a corrective cycle development towards the next technical support seen at the level of 11,600. However, if the bulls will decide to continue buying, the yearly high located at the level of 12,000 is possible to reach very quickly. The next target for bulls is seen at the level of 12,500. The daily time frame chart remains bullish.
The trend on the BTC/USDC pair remains up and there are no signs of a trend reversal, so buy orders are preferred in the mid-term. The next mid-term target for bulls can move above 12,500. The key breakdown of technical support is seen at the level of 11,000.