With its recovery stalled, bitcoin needs a quick break above $12,500 or the tide may turn in favor of the bears.
The cryptocurrency market is showing early signs of possible recovery, with Ripple and Stellar performing best among the top 10 currencies.
Despite a sharp recovery to over $11,500 today, bitcoin's price is still on shaky ground, the charts suggest.
Bitcoin is still dropping and might soon test near-$8,000 levels, chart analysis indicates.
Ripple's XRP token fell to a 2.5-week low today, and is looking at a more or less sideways movement in the short-term, chart analysis suggests.
Amid negative news flow, Bitcoin is taking a hit today and touching 3.5 week lows at the time of writing.
Bitcoin cash prices are looking heavy today, courtesy of repeated failures to pass the $2,800 mark in recent days.
Having defended $13,000, bitcoin looks set to explore a move towards $15,000 levels in the next 24 hours.
Privacy-focused cryptocurrency zcash is solidly bid against the dollar and could soon see a spike against bitcoin.
Bitcoin is back around $14,000 and could be in for a phase of rangebound trading as the markets come to terms with regulatory noises from South Korea.