Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

Bitcoin price charts hint $11K will likely cause trouble for BTC bulls


While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up.

The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum?

Bitcoin holds $10,000 to avoid any further correction on the markets

The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and dropped south, causing the crypto markets to tumble down with it.

BTC/USD 1-day chart. Source: TradingView

Given the fast-paced breakout above $10,000 in July, a large gap was created without substantial support zones. As no support zones were established, the price of Bitcoin fell to the $10,000 area within one day.

This $10,000 area is a crucial support area, as it was previously a resistance area, particularly around

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!